Chana futures remain weak on higher supply

Chana prices fell by another 1.58 per cent to Rs 4,873 per quintal in futures market today as participants reduced their exposure, triggered by higher supplies in the spot markets.
At the National Commodity and Derivatives Exchange, chana for delivery in December month declined by Rs 78, or 1.58 per cent, to Rs 4,873 per quintal with an open interest of 48,680 lots.
On similar lines, the commodity for delivery in January 2016 eased by Rs 45, or 0.95 per cent, to Rs 4,675 per quintal in 25,100 lots.
Marketmen attributed the fall in chana prices to higher supplies from producing belts against easing demand at prevailing levels.

Meanwhile, the Centre has asked states to offload pulses which were seized from hoarders in the markets at the earliest to boost supply and control prices.
The states have seized about 1.32 lakh tonnes of pulses in raids conducted on hoarders. So far, only 5,366 tonnes have been offloaded in the markets.