Rising demand lifts chana futures by 1.50 pc

Chana prices rose 1.50 per cent to Rs 3,585 per quintal in futures trade today as participants created fresh positions, driven by rising demand from dal mills at the spot market.

Besides, tight stocks positions following drop in arrivals from producing regions fuelled the uptrend.

At the National Commodity and Derivatives Exchange, chana for this month contract rose Rs 53, or 1.50 per cent, at Rs 3,585 per quintal with an open interest of 21,110 lots.

Likewise, the commodity for delivery in June contract gained Rs 35, or 0.98 per cent, to Rs 3,608 per quintal in 1,07,010 lots.

Analysts attributed the rise in chana prices to surging demand at the spot market against restricted supplies from producing regions.