Muted demand drags down chana futures by 0.34%

Chana prices were down 0.34 per cent to Rs 4,425 per quintal in futures trade today largely in tune with a weak trend at the spot market owing to slack demand against sufficient stocks.
At the National Commodity and Derivative Exchange, chana for delivery in July declined Rs 15, or 0.34 per cent, to Rs 4,425 per quintal with an open interest of 3,660 lots.
Likewise, the commodity for delivery in August contracts moved down Rs 14, or 0.31 per cent, to Rs 4,478 per quintal in 1,70,840 lots.
Analysts said slack demand in the spot market against adequate stocks position on higher supplies from producing belts mainly kept chana prices lower.