Chana weakens by 0.8% on profit-booking

Increased supply from major producing regions affected the trade

Chana prices fell by 0.80% to Rs 3,352 per quintal in futures trade today on profit- booking by speculators amid subdued demand in physical markets.

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

At the National Commodity and Derivative Exchange (NCDEX), the July contract declined by Rs 27, or 0.80%, to Rs 3,352 per quintal in 90,950 lots.

The June contract fell by Rs 26, or 0.79%, to Rs 3,275 per quintal in 1,22,070 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.