Chana futures slide 0.32% on increased supply

Chana prices slid 0.32% to Rs 3,086 per quintal in futures trading today as participants trimmed positions, triggered by increased supplies from producing region against subdued demand in the spot market.

At the National Commodity and Derivative Exchange, chana for delivery in February shed Rs 10, or 0.32%, to Rs 3,086 per quintal with an open interest of 50,760 lots.

Likewise, the commodity for delivery in January traded lower by Rs 6, or 0.20%, to Rs 3,060 per quintal in 80,700 lots.

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