Chana futures trade lower on higher output hopes

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SummaryChana prices traded lower by Rs 28 to Rs 3850 per quintal in futures market today as speculators offloaded their positions on expectations of higher output.

Chana prices traded lower by Rs 28 to Rs 3850 per quintal in futures market today as speculators offloaded their positions on expectations of higher output.

At the National Commodity and Derivatives Exchange, chana for delivery in January traded lower by Rs 28, or 0.72 per cent to Rs 3850 with an open interest of 63350 lots.

Similarly, the commodity for delivery in February lost Rs 19, or 0.53 per cent to Rs 3553 per quintal in 44,160 lots.

Market analysts attributed the fall in chana futures to expectations of a higher output this year, triggering off-loading of positions by speculators.

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