Chana futures soften on increased arrivals

Chana futures prices softened by Rs 7 to Rs 2,682 per quintal today as speculators reduced their positions on sluggish demand in the spot market.

Adequate stocks following increased arrivals also put pressure on the chana prices.

At the National Commodity and Derivatives Exchange, chana for delivery in June lost Rs 7, or 0.26%, to Rs 2,682 per quintal, with an open interest of 33,290 lots.

Likewise, the commodity for delivery in April shed Rs 3, or 0.12%, to Rs 2,562 per quintal, with a trade volume of 88,750 lots.

Analysts said increased arrivals in the spot market mainly led to the decline in chana futures prices.