Chana prices plunged by 1.48 per cent to Rs 5,375 per quintal in futures trade today as participants cut down their bets at prevailing levels amid government's action to check hoarding.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month June fell by Rs 81, or 1.48 per cent, to Rs 5,375 per quintal, with an open interest of 11,870 lots.
On similar lines, the commodity for delivery in May traded lower by Rs 77, or 1.43 per cent, to Rs 5,289 per quintal in 28,580 lots.
"Fears that the government would take strict action against traders hoarding pulses mainly checked further rise in chana prices at futures trade here," a market analyst said.
Marketmen said offloading of positions by traders after the centre yesterday asked the state government to take strict action against traders hoarding pulses, mainly weighed on chana futures.
