Chana futures remain weak as supply improves

Commodity for delivery in August contracts traded lower by 1.14%

Chana prices fell further by 1.35 per cent to Rs 4,322 per quintal in futures trade today, triggered by higher supplies at the spot markets from producing belts.

At the National Commodity and Derivative Exchange, chana for delivery in July moved down by Rs 59 or 1.35 per cent to Rs 4,322 per quintal with an open interest of 1,54,230 lots.

Also, the commodity for delivery in August contracts traded lower by Rs 51, or 1.14 per cent to Rs 4,421 per quintal in 86,620 lots.

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