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Chana prices tumbled by 3.11% to Rs 2,900 per quintal in futures trading today as speculators reduced their positions amid sluggish demand in the spot market against sufficient supplies.
Better sowing due to ample monsoon rains in growing regions further dampened the sentiment.
At the National Commodity and Derivatives Exchange, chana for delivery in September plunged by Rs 93, or 3.11%, to Rs 2,900 per quintal with an open interest of 74,650 lots.
Similarly, the commodity for delivery in August plunged by Rs 90, or 3.07%, to Rs 2,846 per quintal in 1,92,390 lots.
Market analysts said the fall in chana prices at futures trade was mostly attributed to offloading of positions by speculators due to subdued demand in the spot market against adequate supplies from producing regions.
