Chana futures down 0.72 pc on subdued spot demand

Amid sluggish domestic demand and adequate stocks position, chana prices were down by 0.72 per cent to Rs 3,458 per quintal in futures trading today as speculators trimmed positions.

However, expectations of lower output limited the fall.

At the National Commodity and Derivative Exchange, chana for delivery in January month fell by Rs 25, or 0.72 per cent to Rs 3,458 per quintal with an open interest of 36,220 lots.

Similarly, the commodity for delivery in February contract declined by Rs 14, or 0.40 per cent to Rs 3,522 per quintal in 86,340 lots.

Market analysts said offloading of positions by speculators on the back of weak demand in the spot market against adequate stocks position mainly kept pressure on chana prices at futures trade.