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Chana (gram) futures today witnessed a mixed trend with the near-month contracts extending their losses, while the November and December futures increased.
August contracts on the NCDEX were quoted at Rs 4,755 a quintal (down Rs 8 from the previous closing), while September futures slipped by Rs 4 to Rs 4,869. Chana for October delivery dropped by Rs 12 to Rs 4,951.
Trades said slack demand from retailers and millers coupled with profit-booking were the reasons for the downtrend. However, thin supplies, output concerns and a delayed monsoon limited the downside.
In the spot market at Indore, Madhya Pradesh, chana was quoted at Rs 5,119.7 a quintal.
Chana could undergo further correction amid lack of demand at the higher levels. However, prices may rebound owing to lower acreage in kharif pulses sowing, coupled with the possibility of strong demand for the festive season.
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