Chana futures fall 2.32% on adequate supply

Chana prices were down 2.32 per cent to Rs 4,965 per quintal in futures trade today as traders cut their bets, triggered by ample stocks on higher supplies from producing regions at the spot market.
At the National Commodity and Derivatives Exchange, chana for delivery in December month fell by Rs 118, or 2.32 per cent, to Rs 4,965 per quintal with an open interest of 58,820 lots.
Similarly, the commodity for delivery in November contracts declined by Rs 96, or 1.87 per cent, to Rs 5,036 per quintal in 640 lots.
Marketmen attributed the sharp fall in chana prices to sufficient stocks on the back of higher supplies from producing belts in the physical market against easing demand at prevailing levels.

Meanwhile, over 4,660 tonnes of pulses out of total 1.33 lakh tonnes seized from hoarders in raids across India have been offloaded in the open market in five states that will help boost availability and bring down dal prices.