Chana futures weaken 0.56% on profit-booking

Chana futures prices fell by Rs 19 to Rs 3,592 per quintal today on profit-booking by the speculators on the back of subdued demand in the physical markets.

Increased supply from Madhya Pradesh and Rajasthan also put pressure on chana prices at futures trade.

At the National Commodity and Derivative Exchange, the January contract declined by Rs 19, or 0.56%, to Rs 3,592 per quintal, with an open interest of 1,50,930 lots.

Chana prices also fell by Rs 12, or 0.36%, to Rs 3,295 per quintal, with an open interest of 15,290 lots.

Traders said sluggish demand in the domestic market at existing higher prices against increased arrivals from Madhya Pradesh and Rajasthan mainly led to fall in chana futures prices at the futures market.