Ample stocks drags down chana futures 0.81%

Chana prices dropped by 0.81 per cent to Rs 4,914 per quintal in futures trading today as speculators trimmed their bets, triggered by adequate stocks on higher supplies at the spot market against subdued demand.
At the National Commodity and Derivatives Exchange, chana for delivery in January next year declined by Rs 40, or 0.81 per cent to Rs 4,914 per quintal with an open interest of 21,110 lots.
Similarly, the commodity for delivery in April contracts traded lower by Rs 20, or 0.44 per cent to Rs 4,491 per quintal in 16,170 lots.
Analysts attributed the fall in chana prices at futures trade to higher supplies from producing belts in the physical market following the government measures to check prices amid muted demand.