Muted demand drags down chana futures by 0.69%

Chana prices drifted lower by 0.69 per cent to Rs 4,340 per quintal in futures market today as speculators reduced their exposure amid fall in demand at the spot market against ample stocks position.
At the National Commodity and Derivatives Exchange, chana for delivery in January fell by Rs 30, or 0.69 per cent to Rs 4,340 per quintal with an open interest of 45,510 lots.
Similarly, the commodity for delivery in December contracts was trading lower by Rs 19, or 0.43 per cent to Rs 4,355 per quintal in 8,090 lots.
Marketmen said offloading of positions by traders on the back of easing demand in the physical market against adequate stocks position on increased arrivals from producing belts mainly weighed on chana prices at futures trade.