Chana futures extend fall on tepid demand

Chana prices fell 0.87 per cent to Rs 3,971 per quintal in futures trade today as participants indulged in trimming bets amid subdued demand at the spot market against adequate stocks.

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

Analysts said besides profit-booking by participants at 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 contract fell by Rs 35, or 0.87 per cent, to Rs 3,971 per quintal with an open interest of 38,550 lots.

Similarly, the commodity for delivery in September drifted lower by Rs 33, or 0.84 per cent, to Rs 3,858 per quintal. The open interest of the contract stood at 53,760 lots.