Chana futures decline on profit-booking

NEW DELHI: Chana prices fell by 1.27 per cent to Rs 3,241 per quintal in futures trade today on profit booking by speculators on increased supply against sluggish local demand.

At the National Commodity and Derivative Exchange, chana for the June delivery declined by Rs 42, or 1.27 per cent, to Rs 3,241 per quintal, with an open interest for 1,18,410 lots.

Similarly, chana for the July delivery fell by Rs 40, or 1.19 per cent, to Rs 3,321 per quintal in 99,680 lots.

Traders said sluggish local demand at existing higher prices and increased arrivals from Madhya Pradesh and Rajasthan mainly led to the fall in chana futures prices.