Low demand drags down chana futures by 1.12%

Chana prices moved down by 1.12 per cent to Rs 4,398 per quintal in futures trade today as participants lightened positions, tracking a weak trend at spot market on muted demand.
However, crop damage caused by recent unseasonal rains in some growing states capped the fall.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month May fell by Rs 50, or 1.12 per cent to Rs 4,398 per quintal with an open interest of 20,110 lots.
Likewise, the commodity for delivery in April contracts traded lower by Rs 32 or 0.73 per cent to Rs 4,340 per quintal in 34,810 lots.

Analysts attributed the fall in chana prices at futures trade to sluggish demand in the spot market against sufficient stocks.