Chana futures slid on weak spot demand

Chana prices fell by Rs 14 to Rs 2,134 per quintal in futures market today as speculators reduced their holdings, on weak demand in the spot market.

Increased arrivals from producing regions also put pressure on chana prices.

At the Multi Commodity Exchange, chana for October month fell by Rs 14 or 0.65 per cent to Rs 2,134 per quintal, with an open interest of 702 lots.

The commodity for delivery in September month also declined by Rs 13 or 0.61 per cent to Rs 2,104 per quintal in 706 lots.  

Market analysts said positions reduced by speculators due to fall in demand led to the decline in chana prices at futures trade.