Chana sheds 0.4% on weak demand

Traders offload positions on higher arrivals from producing areas

Chana prices moved down by 0.40 per cent to Rs 2,979 per quintal in futures trade today as speculators offloaded positions on weak trend in spot market on sluggish demand against adequate supplies.

At the National Commodity and Derivative Exchange, chana for delivery in April moved down by Rs 12, or 0.40 per cent, to Rs 2,979 per quintal with an open interest of 86,600 lots.

The May contract traded lower by Rs 12, or 0.39 per cent, to Rs 3,027 per quintal in 26,690 lots.

Analysts said speculators offloading their positions due to sluggish spot market demand against adequate supplies from producing regions which kept pressure on chana prices at futures trade.