Under such circumstances, chana is expected to trade bearish and more falls are on the cards. However, they added that the Abhijit Sen committee report on commodity futures trading could help the chana market to see some recovery in the later part of the next week.
The May chana contract on the National Commodity and Derivatives saw a decline of Rs 234 a quintal. Demand in the market is also reported to be lull with arrivals from Madhya Pradesh and Rajasthan on the rise. During the earlier rally, farmers expected prices to touch Rs 3,200 a quintal.
However, since the decline, farmers are releasing stocks. Last week, the near month contract slipped from Rs 2,738 a quintal level to Rs 2,504 a quintal.
Analysts said the commodity had a support at Rs 2,450-2,500 a quintal and hence wouldn
