Chana futures remain up on tight supply

Continuing its upward journey, chana prices rose by another 0.21 per cent to Rs 4,378 per quintal in futures trade today as participants widened their positions, triggered by tight supplies in the spot markets from producing regions.
At the National Commodity and Derivatives Exchange, chana for delivery in May gained Rs 9, or 0.21 per cent to Rs 4,378 per quintal with an open interest of 9,960 lots.
In a similar manner, the commodity for delivery in April contracts traded higher by Rs 7, or 0.16 per cent to Rs 4,315 per quintal in 29,270 lots.
Analysts attributed rise in chana futures to pick up in demand in the spot market against tight supplies from producing regions.