Chana remains weak on subdued local demand

New arrivals from key growing belts in AP, Karnataka, MP and Maharashtra push May prices down by 0.84%

Chana prices fell by Rs 28 to Rs 3,313 per quintal in futures market today on rising supplies and expectations of higher in output against subdued local demand.     

Marketmen said supplies from the new crop have start arriving from Andhra Pradesh, Karnataka, Maharashtra and Madhya Pradesh mainly influenced the trading sentiment.

They said expectations of higher output this season against restricted buying further influenced the prices.     

At the National Commodity and Derivative Exchange, chana for delivery in May fell Rs 28, or 0.84 per cent, to Rs 3,313 per quintal, with an open interest of 44,700 lots.     

The April contract declined Rs 21, or 0.63 per cent, to Rs 3,287 per quintal, with open interest of 78,440 lots.