Chana down 0.4% on increased supply

Analysts said participants trimmed positions, triggered by increased supplies from producing regions against low demand in the spot market weighed on chana prices

Chana prices declined by 0.42% to Rs 3,061 per quintal in futures trading today as participants trimmed positions, triggered by increased supplies from producing regions.

At the National Commodity and Derivative Exchange, chana for delivery in January declined by Rs 13, or 0.42%, to Rs 3,061 per quintal with an open interest of 65,900 lots.

Similarly, the commodity for delivery in February traded lower by similar margin to Rs 3,116 per quintal in 58,850 lots.

Analysts said participants trimmed positions, triggered by increased supplies from producing regions against low demand in the spot market mainly weighed on chana prices at futures trade.