Chana futures down 0.49 pc on increased supply

NEW DELHI: Chana prices fell by Rs 20 to Rs 4,084 per quintal in futures trade today as speculators reduced their positions, triggered by increased supplies in the spot market against subdued demand.

Expectations of a higher production this year also put pressure on chana.

At the National Commodity and Derivatives Exchange, chana for delivery in January fell by Rs 20, or 0.49 per cent, to Rs 4,084 per quintal, with an open interest of 35,760 lots.

Likewise, the commodity for February contract declined by Rs 19, or 0.53 per cent, to Rs 3,555 per quintal in 60,020 lots.

Market analysts said speculators offloaded their positions following increased supplies against subdued demand in the spot market mainly influenced chana futures.