Chana falls by 0.6% on profit-booking

Subdued demand at the spot market along with high supplies in major producing states affected prices

Chana fell 0.57% to Rs 5,370 per quintal in futures trade today on profit-booking by speculators and subdued demand at the spot market along with high supplies in major producing states.

At the National Commodity and Derivatives Exchange, chana for November declined by Rs 31, or 0.57%, to Rs 5,370 per quintal with an open interest for 300 lots.

Similarly, chana for December delivery fell Rs 26, or 0.51%, to Rs 5,072 per quintal with an open interest for 54,500 lots.

Traders said besides profit-booking by speculators, subdued demand at the spot market at existing higher levels mainly led to the fall in chana prices.