Chana futures inch lower on subdued spot demand

NEW DELHI: Chana prices were down by 0.22 per cent to Rs 3,645 per quintal in futures trade today, largely in tandem with subdued demand at sot markets.

However, concerns over lesser output due to lower sowing acreage restricted the losses.

At the National Commodity and Derivative Exchange ( NCDEX), chana for delivery in April eased by Rs 8, or 0.22 per cent to Rs 3,645 per quintal with an open interest of 1,75,150 lots.

Similarly, the commodity for delivery in May contracts traded lower by the same margin to Rs 3,654 per quintal in 1,04,730 lots.

Analysts said offloading of positions by speculators, amid subdued demand in spot market against adequate stocks position, mainly influenced chana prices at futures trade.