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Continuing a losing streak for the fourth straight day, chana prices fell further by 1.57% to Rs 2,703 per quintal in futures trade today as speculators offloaded their positions, driven by weak demand in the spot market.
At the National Commodity and Derivatives Exchange, chana for delivery in August slid by Rs 43, or 1.57%, to Rs 2,703 per quintal, with an open interest of 1,60,440 lots.
In a similar fashion, the commodity for delivery in September lost Rs 43, or 1.54%, to Rs 2,751 per quintal in 89,550 lots.
Market analysts said speculators offloaded their positions on the back of weak demand in the spot market against adequate supplies from producing region, mainly kept pressure on chana prices at futures trade.
