Chana futures decline on lower demand

Chana prices declined by Rs 10, or 0.43 per cent, to Rs 2,295 per quintal in futures market today due to lower demand in the spot market, against increased arrivals.

Expectations of better crops this season due to adequate monsoons in the growing areas also influenced the market sentiment.

At the Multi Commodity Exchange counter, chana for October fell Rs 10, or 0.43 per cent, to Rs 2,295 per quintal, with an open interest of 137 lots.

However, the commodity for delivery in August month held steady at Rs 2,229 per quintal, with an open interest of 609 lots.

Marketmen said increased arrivals in the physical market against lower demand mainly led to a fall in chana prices at futures market here.