Chana down by 1.3% on higher supplies

Chana prices were down 1.31% to Rs 4,970 per quintal in futures trade today as participants reduced exposure, triggered by higher supplies in the spot markets.

At National Commodity and Derivatives Exchange, chana for delivery in December eased by Rs 66, or 1.31%, to Rs 4,970 per quintal with an open interest of 51,040 lots.

On similar lines, the commodity for delivery in January 2016 traded lower by Rs 61, or 1.27%, to Rs 4,710 per quintal in 28,820 lots.

Marketmen attributed the fall in chana prices to higher supplies from producing belts against weak trend at spot markets on fall in demand at prevailing levels.