Chana futures remain up on strong demand, tight supply

Supported by strong demand at the domestic spot market and restricted supplies from producing regions, chana prices rose further by 0.32 per cent to Rs 6,553 per quintal in futures trade today as traders enlarged positions.
At the National Commodity and Derivatives Exchange, chana for delivery in June advanced by Rs 21 or 0.32 per cent to Rs 6,553 per quintal with an open interest of 1,600 lots.
Similarly, the commodity for delivery in far-month July contracts gained Rs 16 or 0.24 per cent to Rs 6,600 per quintal in 16,200 lots.
Analysts said besides rising demand in the spot market, restricted supplies from producing regions, mainly kept chana prices higher at futures trade.