Chana weakens 0.4% on profit-booking

Weak spot market trend affected the trade

Chana futures for May fell Rs 14, or 0.40%, to Rs 3,476 per quintal in 27,430 lots.

At the National Commodity and Derivative Exchange (NCDEX), the April contract declined Rs 12, or 0.34%, to Rs 3,432 per quintal in 74,380 lots.

Prices weakened as speculators booked profits following weak spot market trend on increased supplies of the new crop.

The new crop volumes from Andhra Pradesh, Karnataka, Maharashtra and Madhya Pradesh are likely to rise further raising concerns of easy availability of stocks.