Chana prices rose by Rs 48 to Rs 3,215 per quintal in futures trade today on sustained buying by traders, driven by a rise in demand in the spot market.
Speculators enlarged their positions on expectations of a rise in domestic demand due to upcoming festivals such as Ramzan. Restricted arrivals from the main producing regions of Rajasthan and Madhya Pradesh further supported the uptrend in prices.
At the Multi Commodity Exchange, chana for delivery in September rose by Rs 48, or 1.53%, to Rs 3,215 per quintal, with an open interest for 1,93,360 lots, while August contracts moved up by Rs 47, or 1.52%, to Rs 3,122 per quintal with open interest for 2,22,280 lots.
The October contract rose by Rs 43, or 1.33%, to Rs 3,282 per quintal with an open interest for 16,820 lots. Analysts said sustained buying by traders, influenced by rising demand in the spot market, mainly led to the rise in chana futures prices.