Chana down by 0.5% on ample stocks

Subdued demand in the spot market also affected prices

Chana prices were down by 0.47% to Rs 5,050 per quintal in futures trade today as traders reduced their positions amid adequate stocks in the spot markets on higher supplies.

At the National Commodity and Derivatives Exchange, chana for delivery in December month fell Rs 24, or 0.47% to Rs 5,050 per quintal with an open interest of 35,200 lots.

Similarly, the commodity for delivery in far-month January 2016 traded lower by Rs 17, or 0.36% to Rs 4,719 per quintal in 26,930 lots.

Market analysts attributed the fall in chana prices at futures trade to higher supplies in the physical market against subdued demand.