Chana dips almost 2% on higher arrivals

Chana prices dropped by Rs 69 to Rs 3,619 per quintal in futures trading today as speculators offloaded their positions, triggered by rising arrival of new crops in the spot market.

At the National Commodity and Derivatives Exchange, chana for delivery in March dropped by Rs 69, or 1.87%, to Rs 3,619 per quintal with an open interest of 80,630 lots.

The April contract moved down by Rs 29, or 0.78%, to Rs 3,668 per quintal in 1,04,260 lots.

Market analysts attributed the fall in chana futures prices to rising arrivals of new crop from producing regions.