Chana futures down 0.60% on adequate stocks

Chana prices drifted by 0.60 per cent to Rs 4,310 per quintal in futures trading today as participants lightened their positions, triggered by adequate stocks at spot market following an improvement in supplies.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month May fell by Rs 26, or 0.60 per cent, to Rs 4,310 per quintal, with an open interest of 17,240 lots.
Likewise, the commodity for delivery in April declined by Rs 21, or 0.49 per cent, to Rs 4,235 per quintal in 35,790 lots.
Market analysts attributed the fall in chana prices at futures trade to sufficient stocks positions in the physical market following increased supplies after the government took steps to check rising prices.

Meanwhile, about 1.23 lakh tonnes of pulses seized from hoarders have been disposed-off in the open market so far to boost supply and contain rising prices.