Chana down by 0.5% on supply pressure

Chana fell 0.53% to Rs 4,855 per quintal in futures trade today as participants reduced exposure, triggered by ample supplies from producing belts at the spot market against easing demand.

At the National Commodity and Derivative Exchange, chana for delivery in October dropped by Rs 26, or 0.53% to Rs 4,855 per quintal with an open interest of 1,57,380 lots.

Likewise, the commodity for delivery in September shed Rs 7, or 0.15% at Rs 4,801 per quintal in 16,130 lots.

Analysts said offloading of positions by speculators amid higher supplies from producing region against fall in demand at spot market, mainly pulled down chana prices in futures trade.