 "Chana tumbles 2.2% on supply pressure")
Chana prices plunged 2.22 per cent to Rs 4,534 per quintal in futures market today as participants reduced their exposures, driven by higher supply from producing belts at spot market.
Further, sluggish demand in the physical market fuelled the downtrend.
At the National Commodity and Derivative Exchange, chana for delivery in July dropped by Rs 103, or 2.22 per cent to Rs 4,534 per quintal with an open interest of 1,52,460 lots.
Analysts attributed the sharp fall in chana prices to higher supplies from producing belts against sluggish demand in the spot market.
Further, sluggish demand in the physical market fuelled the downtrend.
At the National Commodity and Derivative Exchange, chana for delivery in July dropped by Rs 103, or 2.22 per cent to Rs 4,534 per quintal with an open interest of 1,52,460 lots.
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The June contract slid by Rs 97, or 2.11 per cent to Rs 4,500 per quintal in 2,800 lots.
Analysts attributed the sharp fall in chana prices to higher supplies from producing belts against sluggish demand in the spot market.