Chana weaken by 0.69% on profit-booking

Chana prices fell by Rs 32 to Rs 4,598 per quintal in futures trade today on profit-booking by speculators amid subdued demand in physical markets.

Increased supply from the major producing regions of Madhya Pradesh and Rajasthan also put pressure on chana prices in the futures trade.

At the National Commodity and Derivative Exchange, the November contract declined by Rs 32, or 0.69%, to Rs 4,598 per quintal, with an open interest for 71,560 lots.

The December contract fell by Rs 22, or 0.50%, to Rs 4,313 per quintal in 78,900 lots.

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