Chana down on supply pressure

Chana prices declined by Rs 13 to Rs 3,847 per quintal in futures trading today on as speculators trimmed their positions amid supply pressure of new crop in the spot markets.

At the National Commodity and Derivatives Exchange, the June contract for chana declined by Rs 13, or 0.34%, to Rs 3,847 per quintal with an open interest of 30,480 lots.

The April contract shed Rs 5, or 0.14%, to Rs 3,657 per quintal in 70,960 lots.

Market analysts said supply pressure of new crop in the spot markets against subdued demand mainly kept pressure on chana futures prices.