Low demand drags down chana futures

Chana prices were down 0.32 per cent to Rs 4,707 per quintal in futures trade today as speculators trimmed position, taking negative cues from spot market on sluggish demand.
In addition, adequate stocks in the physical market on higher supplies from growing regions put pressure on chana prices.
At the National Commodity and Derivative Exchange, chana for delivery in September fell Rs 15, or 0.32 per cent to Rs 4,707 per quintal with an open interest of 76,680 lots.
Similarly, the commodity for delivery in August traded lower by Rs 11, or 0.24 per cent to Rs 4,641 per quintal in 1,43,800 lots.

Analysts attributed the fall in chana futures to lower demand at the spot market against sufficient stocks position.