Chana falls by 0.7% on muted demand

Low demand in the domestic spot markets also affected prices

Chana prices fell further by 0.73% to Rs 4,343 per quintal in futures trading today as participants engaged in reducing their positions, tracking a weak trend at spot market on low demand.

Furthermore, adequate stocks in the physical market on pick up in supplies from producing regions fuelled the downtrend.

At the National Commodity and Derivative Exchange, chana for delivery in far-month April drifted by Rs 32, or 0.73% to Rs 4,343 per quintal with an open interest of 3,960 lots.

Similarly, the commodity for delivery in January traded lower by Rs 27, or 0.63% to Rs 4,291 per quintal in 26,850 lots.

Analysts attributed the fall in chana futures to slackened demand against sufficient stocks on higher supplies from producing regions.