Chana down 0.7% on increased supply

Commodity for delivery in May traded lower by 0.69%

Chana prices moved down by 0.73% to Rs 3,256 per quintal in futures trading today after speculators trimmed positions, triggered by increased supplies from producing regions.

Expectations of higher output also put pressure on chana prices.

At the National Commodity and Derivative Exchange, chana for delivery in April declined by Rs 24, or 0.73%, to Rs 3,256 per quintal with an open interest of 47,310 lots.

Similarly, the commodity for delivery in May traded lower by Rs 23, or 0.69%, to Rs 3,314 per quintal in 63,890 lots.

Analysts attributed the fall in chana prices at futures trade to increased supplies from producing belts.