Chana futures weakens on higher production concerns

NEW DELHI: Chana prices fell by Rs 26 to Rs 4,187 per quintal in futures trade today as speculators reduced their positions amid slackened demand in spot markets.

Besides, prospects of higher sowing also kept pressure on the chana futures prices here.

At the National Commodity and Derivatives Exchange, chana for November fell by Rs 26, or 0.62 per cent, to Rs 4,187 per quintal with an open interest of 51,120 lots.

Chana for October delivery fell by Rs 23, or 0.53 per cent, to Rs 4,332 per quintal in an open interest of 74,800 lots.

Traders said sluggish demand from dal mills and retailers and prospects of higher sowing, led to the fall in chana prices in the futures market.