Chana down 1.6%, stays under supply pressure
Commodity for delivery in August contracts traded lower by Rs 59, or 1.36%
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Extending losses for the second straight day, chana prices drifted down by 1.66 per cent to Rs 4,159 per quintal in futures trade today on offloading of positions by speculators.
Higher supplies from producing belts at the spot market only added to the fall.
At the National Commodity and Derivative Exchange, chana for delivery in July dropped by Rs 70, or 1.66 per cent, to Rs 4,159 per quintal with an open interest of 67,860 lots.
Similarly, the commodity for delivery in August contracts traded lower by Rs 59, or 1.36 per cent, to Rs 4,269 per quintal in 1,70,270 lots.
Analysts said trimming of positions by speculators, triggered by higher supplies from producing belts, mainly kept pressure on chana prices.
Higher supplies from producing belts at the spot market only added to the fall.
At the National Commodity and Derivative Exchange, chana for delivery in July dropped by Rs 70, or 1.66 per cent, to Rs 4,159 per quintal with an open interest of 67,860 lots.
Similarly, the commodity for delivery in August contracts traded lower by Rs 59, or 1.36 per cent, to Rs 4,269 per quintal in 1,70,270 lots.
Analysts said trimming of positions by speculators, triggered by higher supplies from producing belts, mainly kept pressure on chana prices.
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First Published: Jul 03 2015 | 11:42 AM IST