Chana weakens by 0.9% on sluggish demand

Chana prices fell 0.92% to Rs 2,910 per quintal in futures market today as speculators reduced their positions amid a weak trend at spot market owing to sluggish demand against ample supply.

 

At the National Commodity and Derivatives Exchange, chana for delivery in August month weakened by Rs 27, or 0.92% to Rs 2,910 per quintal with an open interest of 7,520 lots.

 

Similarly, the commodity for delivery in September traded lower by Rs 26, or 0.88% to Rs 2,924 per quintal in 1,55,920 lots.

 

Anlysts said the fall in chana prices at futures trade was mostly attributed offloading of positios by speculators due to a weak trend at spot market on sluggish demand against adequate supplies from producing regions.