 "Chana down 0.6% on increased supply, weak demand")
Chana dropped by 0.64% to Rs 3,118 per quintal in futures trading today as speculators trimmed positions, driven by increased supplies against subdued demand in the spot market.
Adequate stocks in the physical market following increased supplies from the new season crop in Madhya Pradesh also put pressure on chana prices.
At the National Commodity and Derivative Exchange, chana for delivery in June fell by Rs 20, or 0.64% to Rs 3,118 per quintal with an open interest of 85,690 lots.
Analysts attributed the fall in chana prices at futures trade to increased supplies from producing regions against subdued demand in the spot market.
Adequate stocks in the physical market following increased supplies from the new season crop in Madhya Pradesh also put pressure on chana prices.
At the National Commodity and Derivative Exchange, chana for delivery in June fell by Rs 20, or 0.64% to Rs 3,118 per quintal with an open interest of 85,690 lots.
Also Read
Likewise, the commodity for delivery in May contract also trade lower by Rs 18, or 0.59% to Rs 3054 per quintal in 77,100 lots.
Analysts attributed the fall in chana prices at futures trade to increased supplies from producing regions against subdued demand in the spot market.