Chana falls by 0.9% on higher supply
Traders reduced positions amid higher supplies from producing belts
 "Chana falls by 0.9% on higher supply")
Chana prices fell by 0.92% to Rs 3,965 per quintal in futures trade today as traders reduced positions amid higher supplies from producing belts.
Besides, weak trend at spot market on sluggish demand fuelled the downtrend.
At the National Commodity and Derivative Exchange, chana for delivery in June month declined by Rs 37, or 0.92% to Rs 3,965 per quintal with an open interest of 50,110 lots.
Analysts said offloading of positions by speculators on the back of subdued demand in spot market against adequate stocks position on higher supplies from producing belts, mainly influenced chana prices at futures trade.
Besides, weak trend at spot market on sluggish demand fuelled the downtrend.
At the National Commodity and Derivative Exchange, chana for delivery in June month declined by Rs 37, or 0.92% to Rs 3,965 per quintal with an open interest of 50,110 lots.
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Similarly, the commodity for delivery in May contracts moved down by Rs 35, or 0.89% to Rs 3,897 per quintal in 1,07,490 lots.
Analysts said offloading of positions by speculators on the back of subdued demand in spot market against adequate stocks position on higher supplies from producing belts, mainly influenced chana prices at futures trade.