Chana futures soften 0.31% on profit-booking

Chana prices drifted 0.31 per cent to Rs 5,077 per quintal in futures trade today on emergence of profit-booking by speculators at prevailing levels amid subdued demand in the spot market.
Besides, adequate stocks position on higher supplies from major producing regions put pressure on chana prices.
At the National Commodity and Derivatives Exchange, chana for delivery in December month eased by Rs 16, or 0.31 per cent to Rs 5,077 per quintal with an open interest of 62,020 lots.
Similarly, the commodity for delivery in November contracts was trading lower by Rs 2, or 0.04 per cent to Rs 5,402 per quintal in 610 lots.

Traders said besides profit-booking by speculators, fall in demand in the spot market at existing levels, mainly led to decline in chana prices at futures trade.