Chana down 0.3% on increased supply

Chana remained weak for the second straight day and prices fell 0.36% to Rs 3,303 per quintal in futures trading today as speculators trimmed positions, driven by increased supplies against subdued demand in the spot market.

At the National Commodity and Derivative Exchange, chana for delivery in May shed Rs 12, or 0.36%, to Rs 3,303 per quintal with an open interest of 50,910 lots.

Similarly, the commodity for delivery in April traded lower by Rs 11, or 0.34%, to Rs 3,246 per quintal in 68,530 lots.

Analysts attributed the fall in chana prices at futures trade to subdued demand in the spot market against increased supplies from producing regions.