Business Standard

Chana sheds 0.9% on subdued demand

Traders trim positions as inventories pile up

Press Trust of India New Delhi
Chana prices fell 0.93 per cent to Rs 2,867 per quintal in futures trade today as speculators trimmed positions, driven by subdued demand in the spot market against adequate stocks position.

At the National Commodity and Derivative Exchange, chana for delivery in June dropped by Rs 27, or 0.93 per cent, to Rs 2,867 per quintal with an open interest of 1,37,120 lots.

The July contract shed Rs 25, or 0.84 per cent, to Rs 2,937 per quintal in 73,970 lots.

Analysts said offloading of positions by speculators, driven by subdued demand in the spot market against adequate stocks position mainly kept pressure on chana prices at futures trade.

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First Published: May 26 2014 | 11:42 AM IST

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