Chana down 0.3% on sluggish demand

Commodity for delivery in February traded lower by 0.1%

Chana prices declined by 0.33% to Rs 3,000 per quintal in futures market today as speculators offloaded positions on sluggish demand in the spot market against adequate supplies.

At the National Commodity and Derivative Exchange, chana for delivery in April lost Rs 10, or 0.33%, to Rs 3,000 per quintal with an open interest of 86,980 lots.

Similarly, the commodity for delivery in February traded lower by Rs 3, or 0.10%, to Rs 2,937 per quintal in 6,640 lots.

Analysts said weak demand in the spot markets against adequate supply from producing belts mainly put pressure on chana prices at futures trade here.