Chana sheds 1.16% on low demand

Traders offload positions as stocks pile up in physical market

Chana prices fell 1.16 per cent to Rs 4,763 per quintal in futures market today largely dragged down by easing demand at prevailing levels in the spot market against adequate stocks.

At the National Commodity and Derivative Exchange, chana for delivery in October month declined by Rs 56, or 1.16 per cent to Rs 4,763 per quintal with an open interest of 49,010 lots.

The November contract traded lower by Rs 17, or 0.35 per cent to Rs 4,861 per quintal in 85,750 lots.

Analysts said offloading of positions by speculators, tracking fall in spot demand against adequate stocks position, mainly led to decline in chana prices in futures trade.