Chana down 1% on higher supply

Commodity for delivery in November lost 1.04%

Chana prices slide by 1.08% to Rs 3,111 per quintal in futures trade today due to higher supplies from producing regions against subdued demand in the spot market.

At the National Commodity and Derivative Exchange, chana for delivery in December month slide by Rs 34, or 1.08%, to Rs 3,111 per quintal with an open interest of 49,800 lots.

Similarly, the commodity for delivery in November lost Rs 32, or 1.04%, to Rs 3053 per quintal in 100110 lots.

Anlysts said higher supplies against subdued demand in the spot market mainly kept pressure on chana prices at futures trade.