Chana futures remain weak, shed 1.06% on low demand

Chana prices drifted further down by 1.06 per cent to Rs 4,672 per quintal in futures trading today after participants reduced positions, driven by muted demand in the spot market against adequate stocks position.
At the National Commodity and Derivatives Exchange, chana for delivery in December was trading lower by Rs 50, or 1.06 per cent to Rs 4,672 per quintal with an open interest of 29,030 lots.
In a similar fashion, the commodity for delivery in November declined by Rs 36, or 0.74 per cent to Rs 4,861 per quintal in 19,540 lots.
Market analysts said offloading of positions by traders owing to slackened demand in the physical market against sufficient stocks position on increased supplies from growing regions, mainly kept chana prices lower at futures trade.