Chana futures drop 2.03% on low demand

Chana prices plunged 2.03 per cent to Rs 4,880 per quintal in futures market today as speculators reduced exposure amid sufficient stockists position at the spot market against muted demand.

At the National Commodity and Derivatives Exchange, chana for delivery in November dropped by Rs 101, or 2.03 per cent to Rs 4,880 per quintal with an open interest of 32,530 lots.

Likewise, the commodity for delivery in December contracts traded lower by Rs 82, or 1.69 per cent to Rs 4,763 per quintal in 23,290 lots.

Marketmen said trimming of positions by traders due to easing demand in physical market against adequate stocks position on increased arrivals from producing belts, mainly pulled down chana prices at futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)