 "Chana sheds 1.24% on adequate supply")
Chana prices plunged 1.24 per cent to Rs 4,958 per quintal in futures market today as participants reduced exposure amid ample supplies from producing belts at the spot market against easing demand.
At the National Commodity and Derivative Exchange, chana for delivery in September dropped by Rs 62, or 1.24 per cent, to Rs 4,958 per quintal with an open interest of 8,350 lots.
The October contract moved down by Rs 56, or 1.11 per cent, to Rs 5,000 per quintal in 1,57,710 lots.
Analysts said offloading of positions by speculators amid higher supplies from producing regions against decline in demand at spot market at prevailing levels pulled down chana prices in futures trade.
At the National Commodity and Derivative Exchange, chana for delivery in September dropped by Rs 62, or 1.24 per cent, to Rs 4,958 per quintal with an open interest of 8,350 lots.
The October contract moved down by Rs 56, or 1.11 per cent, to Rs 5,000 per quintal in 1,57,710 lots.
Analysts said offloading of positions by speculators amid higher supplies from producing regions against decline in demand at spot market at prevailing levels pulled down chana prices in futures trade.