Chana futures fall on sluggish demand

NEW DELHI: Chana prices fell by Rs 17, to Rs 3,382 per quintal in futures trading today as speculators trimmed their positions, driven by sluggish demand in the spot market.

Rising supplies from the new season crop in the physical market amid expectations of an increase in output mainly kept pressure on chana futures.

At the National Commodity and Derivative Exchange, chana for delivery in April fell by Rs 17, or 0.50 per cent, to Rs 3,382 per quintal with an open interest of 70,730 lots.

Similarly, the commodity for delivery in the May contract shed Rs 17, or 0.49 per cent, to Rs 3,425 per quintal in 27,650 lots.

Traders said speculators offloaded their positions, driven by sluggish demand in the spot market against increased supplies from producing belts mainly put pressure on chana prices at futures market.