Chana futures rise 1.58% on spot demand

Chana prices rose 1.58 per cent to Rs 4,637 per quintal in futures trade today as traders widened their holdings, triggered by good demand at the spot market.
At the National Commodity and Derivatives Exchange, chana for August delivery gained Rs 72, or 1.58 per cent, to Rs 4,637 per quintal, with an open interest for 8,550 lots.
Similarly, chana for delivery in September increased by Rs 64, or 1.40 per cent, to Rs 4,624 per quintal, with an open interest of 1,52,150 lots.
Traders said speculators enlarging their holdings on hopes of a rise in spot market demand, mainly pushed up chana prices.

Furthermore, fall in supplies from the producing regions of Rajasthan and Madhya Pradesh, supported the uptrend.