Chana remains weak on profit-booking

Subdued demand also pulled down the price

Chana prices fell further by Rs 26 to Rs 3,880 per quintal in futures market today, as speculators booked profits, driven by a weak trend at the spot market.

Expectations of higher production this season also put pressure on the chana futures prices.

At the National Commodity and Derivative Exchange, the January contract fell by Rs 26, or 0.66%, to Rs 3,880 per quintal, with an open interest of 67,390 lots.

Similarly, the April contract declined by Rs 12, or 0.33%, to Rs 3,579 per quintal, with a trade volume of 33,560 lots.

Traders said besides profit-booking by speculators, subdued demand in the spot market led to the fall in chana prices.