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Chana futures weaken by 1.75% pc on profit-booking

Dec 07 2012, 16:04 IST
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SummaryChana prices fell by Rs 70 to Rs 3,931 per quintal in futures trade.

Chana prices fell by Rs 70 to Rs 3,931 per quintal in futures trade today on profit-booking by speculators amid subdued demand in physical markets.

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

At the National Commodity and Derivative Exchange, chana for January delivery declined by Rs 70, or 1.75 per cent, to Rs 3,931 per quintal, with an open interest for 1,05,330 lots.

Similarly, chana for December delivery fell by Rs 62, or 1.50 per cent, to Rs 4,085 per quintal in 16,880 lots.

Traders said sluggish demand in the domestic market at existing higher prices and increased arrivals from Madhya Pradesh and Rajasthan mainly led to the fall in chana futures prices.

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