Chana down 0.70% on increased supply, weak demand

Chana prices moved down by 0.70% to Rs 2,835 per quintal in futures trade today as participants trimmed positions amid weak demand in the spot market against increased supplies from producing regions.

At the National Commodity and Derivative Exchange, February delivery fell by Rs 20, or 0.70%, to Rs 2,835 per quintal with an open interest of 54,700 lots.

The March delivery lost Rs 18, or 0.60%, to Rs 2,994 per quintal in 71,430 lots.

Analysts said participants trimmed positions, driven by a weak demand in the spot market against increased supplies from producing regions mainly kept pressure on chana prices at futures trade.