Chana down 0.1% on subdued spot demand

Offloading of holdings by speculators triggered by subdued demand in the spot market against adequate stocks position resulted in the fall of chana futures

Chana prices softened by 0.13% to Rs 3,038 per quintal in futures trade today as speculators reduced their holdings amid subdued demand in the spot market against adequate stockists position.

At the National Commodity and Derivatives Exchange, chana for delivery in September month fell by Rs 4, or 0.13%, to Rs 3,038 per quintal with an open interest of 1,38,920 lots.

Similarly, chana for delivery in October traded lower by the same margin to Rs 3,123 per quintal in 79,470 lots.

Analysts said the fall in chana futures was due to offloading of holdings by speculators triggered by subdued demand in the spot market against adequate stocks position.