Chana futures extend slide, down 0.63 pc on adequate stocks

Chana prices went down further by 0.63 per cent to Rs 3,654 per quintal in futures trade today as participants engaged in reducing holdings, triggered by ample stocks position on increased arrivals from producing belts at spot market against subdued demand.

At the National Commodity and Derivatives Exchange, chana for delivery in May declined by Rs 23, or 0.63 per cent, to Rs 3,654 per quintal with an open interest of 98,110 lots.

Similarly, the commodity for delivery in April was trading lower by Rs 17, or 0.46 per cent, to Rs 3,640 per quintal in 8,510 lots.

Analysts said, offloading of positions by traders on the back of adequate stocks position on increased supplies from producing regions in the physical market against tepid demand, kept chana prices lower at futures trade.