Chana futures up on rising demand

Chana prices advanced by 0.46 per cent to Rs 4,623 per quintal in futures trade today as participants enlarged positions amid strong domestic demand and restricted supplies from producing regions.
Expectations of lower output following unseasonal rains in some growing regions also supported the upside.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month May went up by Rs 21, or 0.46 per cent to Rs 4,623 per quintal with an open interest of 33,220 lots.
On similar lines, the commodity for delivery in April contracts gained Rs 14, or 0.31 per cent, to Rs 4,543 per quintal in 17,840 lots.

Analysts said traders enlarged their positions on the back of rising demand in the spot market amid restricted supplies from producing belts mainly kept chana prices higher at futures trade.