Chana down 1.2% on adequate supply

Chana for August contract lost 1.20%

Chana prices fell by 1.29% to Rs 2753 per quintal in futures trade today  as speculators reduced their positions on sluggish demand in the spot market against adequate supplies from producing region.

At the National Commodity and Derivatives Exchange, chana for delivery in September fell by Rs 36, or 1.29% to Rs 2753 per quintal with an open interest of 141830 lots.

Similarly, chana for August contract lost Rs 33, or 1.20% to Rs 2708 per quintal in 21670 lots.

Market analysts said speculators reduced their positions on the back of sluggish demand in spot market against adequate supplies from producing region mainly kept pressure on chana prices at futures trade.