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Chana extended losses for the third straight day with prices fall by 0.38% to Rs 2,921 per quintal in futures trading today as speculators reduced their holdings, triggered by increased supplies at spot market against sluggish local demand.
Further, expectations of higher output this season on favourable weather conditions also influenced chana prices.
At the National Commodity and Derivatives Exchange, chana for delivery in December fell further by Rs 11, or 0.38% to Rs 2,921 per quintal with an open interest of 64,410 lots.
Similarly, the commodity for delivery in January traded lower by Rs 11, or 0.36% to Rs 3,040 per quintal in 64,270 lots.
Analysts attributed the fall in chana futures prices to increased supplies from producing regions at spot market against sluggish local demand.
