Chana weakens on profit bookings

NEW DELHI: Chana prices fell by Rs 34 to Rs 4,268 per quintal in futures trade today as speculators indulged in profits-taking at existing higher prices, driven by a subdued demand in the domestic markets.

Increased supply from major producing regions of Madhya Pradesh and Rajasthan also put pressure on chana prices in the futures trade.

At the National Commodity and Derivatives Exchange, chana for November delivery fell by Rs 34, or 0.79 per cent, to Rs 4,268 per quintal, with an open interest of 50,270 lots.

Chana for October delivery declined by Rs 19, or 0.42 per cent, to Rs 4,407 per quintal, with an open interest of 73,530 lots.

Traders said subdued demand in the domestic market against increased arrivals from Madhya Pradesh and Rajasthan mainly led to the fall in chana prices in the futures market.