Chana futures extend losses, down 0.71 on higher supply

Extending losses for the second straight day, chana prices fell further by 0.71 per cent to Rs 3,618 per quintal in futures trade today as participants reduced positions amid higher supplies from producing belts.
At the National Commodity and Derivative Exchange, chana for delivery in April fell further by Rs 26, or 0.71 per cent to Rs 3,618 per quintal with an open interest of 1,44,120 lots.
Similarly, the commodity for delivery in May contracts moved down by Rs 21, or 0.57 per cent to Rs 3,649 per quintal in 1,11,870 lots.
Analysts said offloading of positions by speculators amid subdued demand in spot market against adequate stocks position, mainly kept chana prices lower at futures trade.