Chana down 0.8% on subdued spot demand

Commodity for February delivery fell by 0.78%

Chana prices fell by 0.86% to Rs 3,130 per quintal in futures trade today after participants trimmed positions due to weak spot demand.

At the National Commodity and Derivative Exchange, chana for April delivery eased by Rs 27, or 0.86%, to Rs 3,130 per quintal, with an open interest for 68,400 lots.

Similarly, chana for February delivery fell by Rs 23, or 0.78%, to Rs 2,938 per quintal with an open interest of 74,920 lots.

Marketmen said low demand in the spot markets against increased supplies on prospects of higher production mainly put pressure on chana prices at futures trade here.