 "Chana down 0.8% on increased supply, weak demand")
Chana prices moved down by 0.89% to Rs 3,135 per quintal in futures trading today as speculators trimmed their positions, driven by a weak demand in the spot market against increased supplies from producing regions.
At the National Commodity and Derivatives Exchange, chana for delivery in September declined by Rs 28, or 0.89% to Rs 3135 per quintal with an open interest of 7,808 lots.
Likewise, chana for delivery in October traded lower by Rs 21, or 0.65% to Rs 3202 per quintal in 1,18,240 lots.
Analysts said speculators trimmed their positions due to weak demand in the spot market against increased supplies from producing regions, mainly pulled down chana prices at futures trade.
At the National Commodity and Derivatives Exchange, chana for delivery in September declined by Rs 28, or 0.89% to Rs 3135 per quintal with an open interest of 7,808 lots.
Likewise, chana for delivery in October traded lower by Rs 21, or 0.65% to Rs 3202 per quintal in 1,18,240 lots.
Analysts said speculators trimmed their positions due to weak demand in the spot market against increased supplies from producing regions, mainly pulled down chana prices at futures trade.