Chana futures remain higher on rising spot demand

Chana prices rose by another 0.26 per cent to Rs 4,258 per quintal in futures trade today as speculators engaged in enlarging positions, driven by pickup in demand in spot markets amid concerns over lower output this year.
At the National Commodity and Derivatives Exchange (NCDEX), chana for delivery in June month advanced by Rs 11 or 0.26 per cent to Rs 4,258 per quintal with an open interest of 101,230 lots.
Similarly, the commodity for delivery in May contracts moved up by Rs 8 or 0.19 per cent to Rs 4,212 per quintal in 89,310 lots.
Analysts said pickup in demand in the spot market and concerns over lower output due to unseasonal rains in key growing regions, kept chana prices higher at futures trade.