Chana declines 0.74% on profit-booking

Subdued demand influences prices

Chana prices fell by Rs 36 to Rs 4,850 per quintal in futures trading today as speculators booked profits at existing higher levels, driven by subdued demand in the spot market.

At the National Commodity and Derivatives Exchange, chana for delivery in September fell by Rs 36, or 0.74%, to Rs 4,850 per quintal, with an open interest of 95,230 lots.

August chana shed Rs 21, or 0.44%, to Rs 4,785 per quintal in 3,150 lots.

Marketmen said besides profit-booking by speculators at exiting higher levels, subdued demand in the spot market led to the fall in chana futures.