Chana falls by 1% on higher supply

Chana prices were down 1.03% to Rs 5,075 per quintal in futures trade today as participants reduced exposure, triggered by higher supplies from producing regions at the spot markets.

At National Commodity and Derivatives Exchange, chana for delivery in December eased by Rs 53, or 1.03%, to Rs 5,075 per quintal with an open interest of 56,850 lots.

On similar lines, the commodity for delivery in January 2016 traded lower by Rs 19, or 0.39%, to Rs 4,829 per quintal in 24,730 lots.

Marketmen attributed the fall in chana prices to higher supplies from producing belts against weak trend at spot markets on fall in demand at prevailing levels.