Chana futures prices shed 0.92% on higher output hopes

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SummaryChana prices shed 0.92 per cent to Rs 4,198 per quintal in futures market today.

Chana prices shed 0.92 per cent to Rs 4,198 per quintal in futures market today as speculators trimmed their positions amid hopes of higher output this year on favourable weather condition.

Besides, subdued demand in the spot market also influenced chana prices at futures market.

At the National Commodity and Derivatives Exchange, chana for delivery in December fell by Rs 39, or 0.92 per cent, to Rs 4,198 per quintal with an open interest of 62,400 lots.

Similarly, the commodity for delivery in the January contract traded lower by Rs 26, or 0.63 per cent, to Rs 4101 per quintal in 78,770 lots.

Market analysts said besides hopes of higher output due to favourable weather conditions, subdued demand in the spot market mainly kept pressure on chana prices.

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