Chana futures down 0.38% on adequate stocks

Chana prices weakened by 0.38 per cent to Rs 4,438 per quintal in futures trade today as participants lightened their positions amid ample stocks at spot market following increased supplies from producing belts.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month May drifted by Rs 17, or 0.38 per cent to Rs 4,438 per quintal with an open interest of 18,020 lots.
Similarly, the commodity for delivery in April traded lower by Rs 9, or 0.21 per cent to Rs 4,378 per quintal in 34,350 lots.
Market analysts attributed the fall in chana prices at futures trade to adequate stocks positions in the physical market on the back of increased supplies from producing regions.