Chana futures extend fall on subdued demand

Chana prices fell by 1.56 per cent to Rs 3,907 per quintal in futures trade today as participants indulged in trimming bets amid subdued demand at the spot markets.

Moreover, forecast of higher production of kharif pulses amid scattered buying by millers in local wholesale market also exerted pressure on chana prices.

Analysts said besides profit-booking by participants at the existing level, higher output forecast and decline in demand in the physical market weighed on chana futures.

At the National Commodity and Derivatives Exchange, chana for delivery in October fell by Rs 62, or 1.56 per cent, to Rs 3,907 per quintal with an open interest of 42,240 lots.

Similarly, the commodity for September drifted lower by Rs 48, or 1.24 per cent, to Rs 3,817 per quintal. The open interest of the contract stood at 51,470 lots.