Chana futures weaken by 1.06 per cent on profit-booking

NEW DELHI: Chana prices fell by Rs 31 to Rs 2,890 per quintal in futures trade today on profit-booking by speculators on prospects of a better crop.

Increased supply from major producing regions also put pressure on chana prices in futures trade.

At the National Commodity and Derivative Exchange, chana for December delivery declined by Rs 31, or 1.06 per cent, to Rs 2,890 per quintal, with an open interest for 36,620 lots.

Similarly, chana for January delivery fell by Rs 26, or 0.84 per cent, to Rs 3,057 per quintal with open interest of 84,430 lots.

Traders said sluggish demand in the domestic market at existing higher prices and increased arrivals from Madhya Pradesh and Rajasthan, mainly led to the fall in chana futures prices.