Chana futures down 1.06% on profit-booking

NEW DELHI: Chana prices fell by 1.06 per cent to Rs 3,165 per quintal in futures trade today on profit- booking by speculators due to sluggish demand in the spot market, a pick-up in supplies from Rajasthan and good progress of rains.

Estimates of higher production and lower local demand also put pressure on chana futures prices.

At the National Commodity and Derivative Exchange, chana for June declined by Rs 34, or 1.06 per cent, to Rs 3,165 per quintal with an open interest for 4,150 lots.

Similarly, chana for July delivery fell by Rs 30, or 0.92 per cent to Rs 3,204 per quintal with an open interest of 1,70,300 lots.

Traders said besides profit-booking estimates of higher production, sluggish demand in the domestic market mainly led to the fall in chana futures prices.