Chana prices declined by Rs 69, or 2.90 per cent, to Rs 2,303 per 100 kg in futures trading today, as speculators reduced their positions, driven by rising arrivals in the spot market.
The key pulses growing states of Madhya Pradesh, Maharashtra and Rajasthan, received good rains and raised hopes of better crop this season.
At the Multi Commodity Exchange platform, chana for October-month contract fell by Rs 69, or 2.90 per cent, to Rs 2,303 per 100 kg, with a trading volume of two lots, September delivery declined by Rs 18, or 0.78 per cent, to Rs 2,280 per 100 kg, with an open interest of 11 lots.
The commodity for delivery in August-month contract eased by Re one, or 0.04 per cent, to Rs 2,252 per 100 kg, with a business volume of 21 lots.
Analysts said besides rising supplies from producing regions and expectations of higher output, subdued spot demand also led to a decline in chana prices at futures trade.