Chana futures down 1% on sluggish demand

Chana prices dropped by 1.01 per cent to Rs 4,417 per quintal in futures trade today as speculators reduced their exposure amid fall in demand at spot market against sufficient stocks position.
At the National Commodity and Derivatives Exchange, chana for delivery in January fell by Rs 45, or 1.01 per cent to Rs 4,417 per quintal with an open interest of 42,070 lots.
Likewise, the commodity for delivery in December shed Rs 5, or 0.11 per cent to Rs 4,444 per quintal in 13,520 lots.
Marketmen said offloading of positions by traders due to fall in demand in the physical market against adequate stocks position on increased arrivals from producing belts, mainly pulled down chana prices at futures trade.