Chana futures surge 1.34 pc on lower output hopes

Chana prices climbed 1.34 per cent to Rs 4,020 per quintal in futures market today as participants created speculative positions amidst expectations of lower output due to unseasonal rains in growing regions.
At the National Commodity and Derivatives Exchange (NCDEX), chana for delivery in May month shot up by Rs 53 or 1.34 per cent to Rs 4,020 per quintal with an open interest of 109,100 lots.
Similarly, the commodity for delivery in June contracts jumped up by Rs 51 or 1.27 per cent to Rs 4,082 per quintal in 62,500 lots.
Analysts said besides expectations of lower output on unseasonal rains in growing regions, pickup in spot market demand, mainly pushed up chana prices at futures trade.