 "Chana up 4% on lower output estimates")
Chana prices climbed 3.65 per cent to Rs 4,597 per quintal in futures trade today as speculators indulged in enlarging their positions amid lower output estimates due to unseasonal rainfall in key growing belts.
Also, rising demand in the spot market fuelled the uptrend.
At National Commodity and Derivatives Exchange, chana for delivery in June advanced Rs 162, or 3.65 per cent, to Rs 4,597 per quintal with an open interest of 1,07,600 lots.
Analysts said speculative positions from participants driven by lower output estimates following unseasonal rains in key producing areas, mainly kept chana prices firm in futures trade.
Also, rising demand in the spot market fuelled the uptrend.
At National Commodity and Derivatives Exchange, chana for delivery in June advanced Rs 162, or 3.65 per cent, to Rs 4,597 per quintal with an open interest of 1,07,600 lots.
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Similarly, the commodity for delivery in May contracts gained Rs 133, or 3.04 per cent, to Rs 4,505 per quintal in 90,940 lots.
Analysts said speculative positions from participants driven by lower output estimates following unseasonal rains in key producing areas, mainly kept chana prices firm in futures trade.