Chana extends fall Fri on profit-booking, weak demand
MUMBAI, FEB Chana prices extend fall for second straight trading session at the close of trading Friday on profit-booking after prices rose to over one-month high and subdued demand from bulk consumers, analysts said.
"Profit-taking is hampering the prices of the pea," said Sudha Acharya, research analyst with Kotak Commodities.
Domestic chana prices rose by 3.31% to Rs 3,645 per quintal in past three trading session on lower supplies in local mandis.
Chana prices were also under pressure as domestic demand for the pea is weak by bulk consumers on quality issues, analysts said.
The spread of May contract over April rose to Rs 8 per quintal and is expected rise further as lower acreage is pushing the prices of May, analysts said.
Chana for April delivery fell 0.63% to Rs 3,619 per quintal on the National Commodity and Derivatives Exchange.
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