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Chana prices weakened by 0.85% to Rs 3,048 per quintal in futures market today as speculators reduced positions on the back of sluggish demand in the spot market against sufficient supplies.
Good monsoon rains in growing regions also influenced chana prices.
At the National Commodity and Derivatives Exchange, chana for delivery in August weakened by Rs 26, or 0.85% to Rs 3,048 per quintal in open interest of 2,10,040 lots.
Similarly, chana for July contract traded lower by Rs 17, or 0.56%, to Rs 2,992 per quintal in 9,150 lots.
Market analysts said speculators reduced their positions on the back of sluggish demand in the spot market against sufficient supplies from producing regions, which mainly led to decline in chana prices at futures trading.
Hopes of higher sowing this season on good monsoon rains in growing regions also influenced chana prices at futures trade, they said.
