Chana prices fell by Rs 23 to Rs 2,320 per quintal in future trade today as speculators indulged in profit taking at existing higher prices, driven by a sluggish demand in physical market.
Favourable monsoon predictions, increased arrivals and low domestic demand kept pressure on the market sentiments.
At the National Commodity and Derivatives Exchange, chana for delivery in May fell by Rs 23, or 0.98% to Rs 2,320 per quintal, with an open interest of 1,57,810 lots.
Chana for June delivery contract declined by Rs 21, or 0.87% to Rs 2,391 per quintal, with an open interest of 1,04,600 lots.
Likewise, prices for delivery in July eased by Rs 17, or 0.69% to Rs 2,459 per quintal, with an open interest of 42,480 lots.
Traders said sluggish demand in the domestic market against increased arrivals from Madhya Pradesh and Rajasthan, mainly led to the decline in chana futures prices.
They, however, felt that the overall sentiments will remain slightly weak due to the high arrivals and low demand in the the spot markets.