Chana futures hit lower circuit, plunge 4 per cent

Chana prices tumbled 4 per cent to hit a lower circuit at Rs 4,374 per quintal in futures trade today as speculators offloaded their positions amid a weak trend at the spot market due to fall in demand at prevailing levels among higher supplies from producing regions.
At National Commodity and Derivative Exchange, chana for delivery in October moved down by Rs 182, or 3.99 per cent, to Rs 4,374 per quintal with an open interest of 1,25,170 lots.
Similarly, the commodity for delivery in September declined Rs 158, or 3.52 per cent, to Rs 4,333 per quintal in 4,850 lots.

Marketmen attributed the fall in chana futures to increased arrivals from producing regions in the physical market against sluggish demand from dal mills.