Chana falls by 1.3% on low demand

Sufficient stocks on higher supplies in the spot market also affected prices

Chana prices tumbled by 1.33% to Rs 4,961 per quintal in futures market today as traders cut down their positions amid subdued demand in the spot market.

At the National Commodity and Derivatives Exchange, chana for delivery in April plunged by Rs 67, or 1.33%, to Rs 4,961 per quintal, with an open interest of 1,970 lots.

Read more from our special coverage on "CHANA PRICES"

• Chana up by 1.9% on strong spot demand
• Chana prices fall by 0.4% on muted demand
• Chana up by 1.7% on strong demand
• Chana falls by 0.5% on adequate stocks

Similarly, the commodity for delivery in far-month May moved down by Rs 52, or 1.03%, to Rs 5,007 per quintal in 38,540 lots.

Analysts said offloading of positions by traders due to easing demand in the spot market against sufficient stocks on higher supplies, mainly pulled down chana prices at futures trade.