Chana futures fall 0.45% on profit-booking

Chana prices fell by 0.45 per cent to Rs 3,051 per quintal in futures trade today on profit-booking by speculators due to large stocks from the old crop and expectations of higher production.
Sentiment is low because stocks from the old crop are high. Demand is also weak in the local market on higher carry forward stocks and prospects of higher production, traders said.
At the National Commodity and Derivative Exchange, chana for February delivery declined by Rs 14, or 0.45 per cent, to Rs 3,051 per quintal, with an open interest for 70,810 lots.
Similarly, chana for January delivery fell by Rs 13, or 0.43 per cent, to Rs 2,984 per quintal with an open interest of 43,040 lots.