Chana futures down 0.50% on adequate stocks

Chana prices declined by 0.50 per cent to Rs 5,591 per quintal in futures trade today as participants cut their positions, triggered by ample stocks at the spot market on increased supplies following the government's measures to check rising prices.
At the National Commodity and Derivatives Exchange, chana for delivery in May fell by Rs 28, or 0.50 per cent, to Rs 5,591 per quintal with an open interest of 1,320 lots.
Likewise, the commodity for delivery in far-month June contracts traded lower by Rs 11, or 0.19 per cent, to Rs 5,675 per quintal in 20,040 lots.
Analyasts attributed the fall in chana futures to ample stocks in the physical market on increased supplies from producing belts after the government announced measures to check rising prices.