Chana prices surged over 3% to Rs 3,628 per quintal in futures trade today on strong consumer demand in spot markets for the ongoing festive season against tight supply.
Supported by some inquiries from millers at lower levels amid fall in supplies from producing regions of Rajasthan and Gujarat, further supported the uptrend in the futures trade.
At the National Commodity and Derivative exchange, September chana spurted by Rs 119 or 3.39% to Rs 3,628 per quintal with open interest of 55,450 lots.
The October contract rose Rs 109, or 3.05% higher to Rs 3,681 per quintal with open interest of 3,26,840 lots, while November delivery rose by Rs 103, or 2.83% to Rs 3,747 per quintal with open interest of 1,03,900 lots.
The contract jumped by over 5% in last week on buying by stockists and millers to meet festive season demand and on reports of lower pulses output in the current kharif (summer crop) season.