Chana down 0.5% on higher supply

Commodity for delivery in July contracts moved down 0.41%

Chana prices eased by 0.51 per cent to Rs 4,293 per quintal in futures trade today as traders reduced positions, triggered by higher supplies from producing belts against sluggish demand.

At the National Commodity and Derivative Exchange, chana for delivery in August declined by Rs 22, or 0.51 per cent to Rs 4,293 per quintal with an open interest of 1,49,620 lots.

The commodity for delivery in July contracts moved down by Rs 17, or 0.41 per cent to Rs 4,160 per quintal in 1,12,410 lots.

Analysts said offloading of positions by speculators amid higher supplies from producing belts against sluggish demand at the spot market kept pressure on chana prices at futures trade.