Chana futures fall 0.34% on higher output hopes

Chana prices fell by Rs 16 to Rs 4,700 per quintal in futures trade today as speculators reduced positions amid hopes of higher output this year on favourable weather condition amid subdued demand.

At the National Commodity and Derivatives Exchange, chana for delivery in November fell by Rs 16, or 0.34 per cent, to Rs 4,700 per quintal, with an open interest of 49,270 lots.

Likewise, the commodity for delivery in December shed Rs 5, or 0.11 per cent, to Rs 4,386 per quintal, with an open interest of 72,390 lots.

Marketmen said besides hopes of higher output due to favourable weather conditions, subdued demand in the spot market mainly influenced chana prices at futures market.

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