Chana falls by 1.2% on increased supply, weak demand

Offloading of positions by speculators at the spot market affected prices

Chana prices fell by 1.23% to Rs 3,137 per quintal in futures trading today as speculators trimmed their positions, tracking a weak trend at spot market on subdued demand against increased supplies.

 

At the National Commodity and Derivatives Exchange, chana for delivery in September fell by Rs 39, or 1.23% to Rs 3,137 per quintal with an open interest of 1,33,850 lots.

 

Similarly, the commodity for delivery in October traded lower by Rs 31, or 0.96% to Rs 3,214 per quintal in 86,340 lots.

 

Analysts said offloading of positions by speculators due to a weak trend at spot market on subdued demand against increased supplies from producing regions mainly kept pressure on chana prices at futures trade.