Chana futures fall 2.87 per cent on sluggish demand

NEW DELHI: Chana prices fell by 2.87 per cent to Rs 3,591 per quintal in futures trade today as speculators trimmed positions amid subdued demand in the spot market at existing higher levels.T

However, expectations of lower output restricted the fall.

At the National Commodity and Derivative Exchange, chana for delivery in January next year fell by Rs 106, or 2.87 per cent, to Rs 3,591 per quintal with an open interest of 66,410 lots.

Similarly, the commodity for delivery in February traded lower by Rs 78, or 2.13 per cent, to Rs 3,592 per quintal in 58,960 lots.

Market analysts said offloading of positions by speculators due to sluggish demand in the spot markets mainly pulled down chana prices at futures trade.