 "Chana futures dip 1.30% on supply pressure")
Chana prices dipped by 1.30% to Rs 3,188 per quintal in futures trade today as speculators trimmed their positions, triggered by increased supplies from producing regions against sluggish demand in the spot market.
Good progress in the summer sowing of pulses due to monsoon rains also influenced the sentiment.
At the National Commodity and Derivative Exchange, chana for delivery in July month dipped by Rs 42, or 1.30%, to Rs 3,188 per quintal with an open interest of 1,59,390 lots.
Market analysts said speculators trimmed their positions, driven by increased supplies from producing region against sluggish demand in the spot market mainly kept pressure on chana prices at futures trade.
Good progress in the summer sowing of pulses due to monsoon rains also influenced the sentiment.
At the National Commodity and Derivative Exchange, chana for delivery in July month dipped by Rs 42, or 1.30%, to Rs 3,188 per quintal with an open interest of 1,59,390 lots.
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Similarly, the commodity for delivery in August contract lost Rs 40, or 1.21%, to Rs 3,257 per quintal in 81,000 lots.
Market analysts said speculators trimmed their positions, driven by increased supplies from producing region against sluggish demand in the spot market mainly kept pressure on chana prices at futures trade.