 "Chana down 0.7% on sluggish demand")
Chana prices fell further by 0.70% to Rs 2,986 per quintal in futures market today as speculators trimmed positions, driven by sluggish demand in the spot market against increased supplies.
Further, expectations of higher output this season on favourable weather conditions kept pressure on chana prices.
At the National Commodity and Derivatives Exchange, chana for delivery in December fell further by Rs 21, or 0.70% to Rs 2,986 per quintal with an open interest of 72,270 lots.
Analysts said trimming of positions by speculators following sluggish demand in the spot market against increased supplies from producing regions mainly influenced chana prices at futures trade.
Further, expectations of higher output this season on favourable weather conditions kept pressure on chana prices.
At the National Commodity and Derivatives Exchange, chana for delivery in December fell further by Rs 21, or 0.70% to Rs 2,986 per quintal with an open interest of 72,270 lots.
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The commodity for delivery in January also declined by Rs 14, or 0.45% to Rs 3,096 per quintal in 62,100 lots.
Analysts said trimming of positions by speculators following sluggish demand in the spot market against increased supplies from producing regions mainly influenced chana prices at futures trade.
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