Chana futures decline 0.46 pc on sluggish demand

Chana prices were down by 0.46 per cent to Rs 3667 per quintal in futures trade today as speculators trimmed positions, tracking a weak trend at spot market on subdued demand.
Adequate stocks position in the physical market on increased supplies from producing belts put pressure on chana prices, traders said.
At the National Commodity and Derivative Exchange, chana for delivery in far-month April declined by Rs 17, or 0.46 per cent to Rs 3,667 per quintal with an open interest of 1,72,220 lots.
Likewise, the commodity for delivery in May contracts shed Rs 13, or 0.35 per cent to Rs 3,679 per quintal in 1,00610 lots.

Analysts said offloading of positions by speculators, triggered by subdued demand in spot market against adequate stocks position, mainly led to the decline in chana prices at futures trade.