Chana prices plunged by Rs 56 to Rs 3,676 per quintal in futures market 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 shed Rs 56, or 1.50%, to Rs 3,676 per quintal, with an open interest of 93,600 lots.
The April contract lost Rs 42, or 1.14%, to Rs 3,627 per quintal in 97,690 lots.
Market analysts attributed the sharp fall in chana futures prices to rising arrivals of new crop from producing regions.