 "Chana succumbs to supply pressure; down 1.92%")
Extending losses for the third straight day, chana prices eased further by 1.92 per cent to Rs 4,960 per quintal in futures trading today as traders reduced their positions, triggered by higher supplies from producing regions at the spot market.
At the National Commodity and Derivatives Exchange, chana for delivery in December month plunged by Rs 97, or 1.92 per cent, to Rs 4,960 per quintal with an open interest of 36,230 lots.
The January contract shed Rs 77, or 1.59 per cent, to Rs 4,766 per quintal in 27,430 lots.
Analysts attributed the fall in chana prices at futures trade to ample stocks due to higher supplies from producing belts in the physical market after the government measures to check rising prices amid sluggish demand.
At the National Commodity and Derivatives Exchange, chana for delivery in December month plunged by Rs 97, or 1.92 per cent, to Rs 4,960 per quintal with an open interest of 36,230 lots.
The January contract shed Rs 77, or 1.59 per cent, to Rs 4,766 per quintal in 27,430 lots.
Analysts attributed the fall in chana prices at futures trade to ample stocks due to higher supplies from producing belts in the physical market after the government measures to check rising prices amid sluggish demand.