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Chana slides 0.38% on adequate supply

Speculators trim positions as demand in spot market remains sluggish

Press Trust of India New Delhi
Chana prices were down by 0.38 per cent to Rs 3,171 per quintal in futures trade today as speculators trimmed positions, driven by increased supplies from producing regions in spot market against subdued demand.

At the National Commodity and Derivative Exchange, chana for delivery in November fell by Rs 12, or 0.38 per cent to Rs 3,171 per quintal with an open interest of 53,480 lots.

The December contract declined by Rs 10, or 0.32 per cent to Rs 3,144 per quintal in 66,450 lots.

Market analysts attributed the fall in chana futures to increased supplies from producing regions in physical market against sluggish demand.
 

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First Published: Nov 18 2014 | 1:43 PM IST

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