Chana futures down 1% on low spot demand

Chana prices were down by 1.09 per cent to Rs 3,645 per quintal in futures trade today as participants trimmed their positions on the back of sluggish demand in the spot market.
Besides, adequate stocks in the physical market on higher supplies from producing belts kept pressure on chana prices.
At the National Commodity and Derivative Exchange, chana for delivery in April plunged by Rs 40, or 1.09 per cent to Rs 3,645 per quintal with an open interest of 1,47,930 lots.
Similarly, the commodity for delivery in May contracts traded lower by Rs 21, or 0.57 per cent to Rs 3,674 per quintal in 1,10,820 lots.

Analysts said offloading of positions by speculators amid low demand in spot market against adequate stocks position, mainly pulled down chana prices at futures trade.