Chana futures down on supply pressure

NEW DELHI: Chana prices declined by Rs 13 to Rs 3,847 per quintal in futures trading today on as speculators trimmed their positions amid supply pressure of new crop in the spot markets.

At the National Commodity and Derivatives Exchange, chana for delivery in June declined by Rs 13, or 0.34 per cent, to Rs 3,847 per quintal with an open interest of 30,480 lots.

Likewise, the commodity for delivery in April shed Rs 5, or 0.14 per cent, to Rs 3,657 per quintal in 70,960 lots.

Market analysts said supply pressure of new crop in the spot markets against subdued demand mainly kept pressure on chana futures prices.