Higher supply drags down chana futures by 0.84%

NEW DELHI: Chana prices were down 0.84 per cent to Rs 5,046 per quintal in futures trade today as participants reduced exposure, triggered by higher supplies from producing regions at the spot market.

At National Commodity and Derivatives Exchange, chana for delivery in December eased by Rs 43, or 0.84 per cent, to Rs 5,046 per quintal with an open interest of 56,730 lots.

On similar lines, the commodity for delivery in November contracts traded lower by Rs 20, or 0.40 per cent, to Rs 4,990 per quintal in 2,590 lots.

Marketmen attributed the fall in chana prices to higher supplies from producing belts against easing demand at prevailing levels.