 "Chana down 0.3% on falling demand, increased supply")
Chana prices moved down by 0.34% to Rs 2,935 per quintal in futures market today as speculators trimming their positions, tracking a weak trend at spot market on sluggish demand against increased supplies.
Expectations of better output this season on favourable weather conditions also put pressure on chana prices.
At the National Commodity and Derivatives Exchange, chana for delivery in December declined by Rs 10, or 0.34% to Rs 2935 per quintal with an open interest of 60710 lots.
Analysts said speculators trimming their positions, tracking a weak trend at spot market on sluggish demand against increased supplies from producing region mainly kept pressure on refined soya oil prices at futures trade.
Expectations of better output this season on favourable weather conditions also put pressure on chana prices.
At the National Commodity and Derivatives Exchange, chana for delivery in December declined by Rs 10, or 0.34% to Rs 2935 per quintal with an open interest of 60710 lots.
Also Read
Likewise, the commodity for delivery in January traded lower by Rs 4, or 0.13% to Rs 3062 per quintal in 71,230 lots.
Analysts said speculators trimming their positions, tracking a weak trend at spot market on sluggish demand against increased supplies from producing region mainly kept pressure on refined soya oil prices at futures trade.