Chana futures extend weakness on supply pressure

Chana prices dropped by 0.37 per cent to Rs 5,686 per quintal in futures market today as participants reduced their exposure, triggered increased supplies at spot market after the government announced measures to check rising prices.
At the National Commodity and Derivatives Exchange, chana for delivery in June month fell by Rs 21, or 0.37 per cent to Rs 5,686 per quintal with an open interest of 18,480 lots.
Likewise, the commodity for delivery in far-month July contracts traded lower by Rs 19, or 0.33 per cent to Rs 5,760 per quintal in 4,000 lots.
Analysts attributed the fall in chana futures to ample stocks on increased supplies from producing regions after the government announced measures to check rising prices.