Chana futures remain weak on adequate supplies from producing belts

NEW DELHI: Falling for the second day, chana prices shed another 0.18 per cent to Rs 4,455 per quintal in futures trading today as speculators indulged in reducing positions amid adequate supplies from producing belts.

However, reports of lower output due to unseasonal rains in key producing areas restricted the fall.

At National Commodity and Derivative Exchange, chana for delivery in May month declined by Rs 8, or 0.18 per cent to Rs 4,455 per quintal with an open interest of 74,680 lots.

Likewise, the commodity for delivery in June contracts traded lower by Rs 6, or 0.13 per cent to Rs 4,572 per quintal in 1,12,810 lots.

Analysts said besides easing demand at current levels, adequate stocks position on increased supplies from producing belts, mainly kept pressure on chana prices in futures trade.