Chana futures weaken 1.15 on profit-booking

Chana prices fell by 1.15 per cent to Rs 3,108 per quintal in futures market today, as speculators booked profits, driven by a weak trend at the spot market on sluggish demand.
Expectations of higher production this season also put pressure on the chana futures prices.
At the National Commodity and Derivative Exchange, chana for delivery in April fell by Rs 36, or 1.15 per cent, to Rs 3,108 per quintal, with an open interest of 75,120 lots.
Similarly, the commodity for delivery in February declined Rs 31, or 1.05 per cent, to Rs 2,922 per quintal, with open interest of 9,130 lots.

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