Chana extend losses, down 0.7% on ample supply

Chana for delivery in August declined by 0.72%

Chana extended losses and shed 0.76% to Rs 3,116 per quintal in futures trading today on increased supplies from producing regions against weak demand in the spot market.

At the National Commodity and Derivative Exchange, chana for delivery in July fell further by Rs 24, or 0.76%, to Rs 3,116 per quintal, with an open interest of 1,44,170 lots.

Similarly, chana for delivery in August declined by Rs 23, or 0.72%, to Rs 3,186 per quintal in 92,530 lots.

Market analysts said increased supplies from producing region against weak demand in the spot market mainly helped chana prices to surrendered further ground at futures trade.

Besides, good progress in the summer sowing of pulses due to ample monsoon rains further influenced the sentiment.