Falling for the third straight day, chana prices plunged by 3.16 per cent to Rs 4,659 per quintal in futures trade today as traders indulged in reducing positions, triggered by higher supplies from producing regions at spot market against subdued demand.
At the National Commodity and Derivative Exchange, chana for delivery in September month dived Rs 152, or 3.16 per cent to Rs 4,659 per quintal with an open interest of 6,490 lots.
Similarly, the commodity for delivery in October contracts dropped by Rs 146, or 3.01 per cent to Rs 4,699 per quintal in 1,52,630 lots.
Analysts said offloading of positions by speculators, driven by higher supplies from producing regions against weak demand at spot market mainly weighed on chana prices at futures trade.
