Chana futures prices fell by Rs 31 to Rs 3,467 per quintal today, as speculators booked profits at existing high prices, due to a sluggish demand in the physical market.
Increased supply from Madhya Pradesh and Rajasthan also put pressure on chana prices at futures trade. Prices of the commodity have been rising for the last five months and touched record high levels in the previous session.
At the National Commodity and Derivative Exchange, November chana fell by Rs 31, or 0.89%, to Rs 3,467 per quintal, with an open interest of 73,840 lots.
The October contract declined by Rs 29, or 0.85%, to Rs 3,390 per quintal, with a trade volume of 2,43,090 lots, while September contract also drifted by Rs 23, to Rs 3,298 per quintal, with business turnover of 2,33,420 lots.
Traders said sluggish demand in the domestic market at existing high prices against increased arrivals from Madhya Pradesh and Rajasthan, mainly led to the fall in chana futures prices.