Chana futures fall 1.27% on low demand

Chana prices moved down by 1.27 per cent to Rs 3,505 per quintal in futures trade today as speculators trimmed positions amid lower demand in the spot market.
However, expectations of lower output limited the fall.
At the National Commodity and Derivative Exchange, chana for delivery in January fell by Rs 45, or 1.27 per cent, to Rs 3,505 per quintal with an open interest of 62,680 lots.
Similarly, the commodity for delivery in February traded lower by Rs 33, or 0.93 per cent, to Rs 3,517 per quintal in 64,710 lots.
Market analysts said offloading of positions by speculators due to subdued demand in the spot market against adequate stocks position mainly kept pressure on chana prices at futures trade.