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Chana weakens by 1% on profit-booking

Increased supply from major producing regions add to pressure in futures trade

Press Trust of India New Delhi
Chana prices fell by Rs 31 to Rs 2,890 per quintal in futures trade today on profit-booking by speculators on prospects of a better crop.
    
Increased supply from major producing regions also put pressure on chana prices in futures trade.
    
At the National Commodity and Derivative Exchange, chana for December delivery lost Rs 31, or 1.06 per cent, to Rs 2,890 per quintal, with an open interest for 36,620 lots.
    
The January contract shed Rs 26, or 0.84 per cent, to Rs 3,057 per quintal with open interest of 84,430 lots.
    
Traders said sluggish demand in the domestic market at existing higher prices and increased arrivals from Madhya Pradesh and Rajasthan, mainly led to the fall in chana futures prices.

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First Published: Dec 10 2013 | 1:13 PM IST

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