Chana remains weak on sluggish demand

September contract falls over 1%

Chana prices fell further by Rs 52 to Rs 4,740 per quintal in futures trade today on sluggish demand at prevailing higher levels against adequate stocks.

At the National Commodity and Derivatives Exchange, chana for delivery in September month fell by Rs 52, or 1.09%, to Rs 4,740 per quintal, with an open interest for 78,870 lots.

The October contract declined by Rs 48, or 0.98%, to Rs 4,842 per quintal in 25,790 lots.

Traders said sluggish demand at prevailing higher levels against adequate stock availability weighed on the commodity.

Increased supplies, driven by improved rains in Rajasthan and Madhya Pradesh, which would help kharif-sowing, influenced prices, they added.