Chana futures drop 1.99% on adequate supply

In range-bound trading, chana prices plunged by Rs 47 to Rs 2,310 per quintal in futures trade today on adequate stocks in the spot market against subdued demand. 

Expectations of higher output also put pressure on chana prices.

At the Multi Commodity Exchange, chana for November month contract plunged by Rs 47, or 1.99 per cent to Rs 2310 per quintal in a single lot.

Marketmen said adequate stocks against subdued demand in the spot market mainly pulled down chana prices in the futures trade.