Chana futures weaken by 1.53% on profit-booking

NEW DELHI: Chana prices fell by 1.53 per cent to Rs 3,164 per quintal in futures trade today on profit- booking by speculators amid subdued demand in physical markets.

Estimates of higher production and lower local demand also put pressure on chana futures prices.

At the National Commodity and Derivative Exchange, chana for July declined by Rs 49, or 1.53 per cent, to Rs 3,164 per quintal with an open interest for 1,80,260 lots.

Similarly, chana for June delivery fell by Rs 44, or 1.39 per cent to Rs 3,115 per quintal in 7,500 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.