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Chana down 0.3% on higher supply

Commodity for delivery in December shed 0.29%

Press Trust of India New Delhi
Chana prices fell by 0.31% to Rs 3,189 per quintal in futures trade today following sufficient supplies at spot market against subdued demand.
 
Expectations of higher output this season on favourable weather conditions also influenced chana prices.
 
At the National Commodity and Derivatives Exchange, chana for delivery in January slid by Rs 10, or 0.31%, to Rs 3,189 per quintal with an open interest of 48,260 lots.
 
Likewise, the commodity for delivery in December shed Rs 9, or 0.29%, to Rs 3,093 per quintal in 85,380 lots.
 
Analysts said sufficient supplies in the markets from producing regions against subdued demand mainly put pressure on chana prices at futures trade.
 

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First Published: Nov 22 2013 | 1:52 PM IST

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