Chana prices fell 0.48% to Rs 3,694 per quintal in futures trading today, extending losses for the third straight day, as participants engaged, reduced positions on fears that a producing state may take measures to check excess speculative activity.
Subdued demand at the prevailing high prices, in the spot markets, also kept pressure on prices in the futures trade.
At the National Commodity and Derivatives Exchange, chana for delivery in May declined by Rs 18, or 0.48%, to Rs 3,694 per quintal, with an open interest of 103,810 lots.
Analysts said persistent off-loading of positions by players on fears that a key producing state, Rajasthan, may take measures to cut stock holding limit for pulses, weighed on chana prices today.
A cut in stock holding is mainly done to discourage hoarding.
The April contract also lost Rs 14, or 0.39%, to trade at Rs 3,595 per quintal, with an open interest of 12,680 lots.
