Chana futures up over 3% on spot demand

Chana prices rose by over 3 per cent to Rs 4,700 per quintal in futures trade today as traders enlarged holdings, triggered by rising demand in the spot markets amid lower output estimates.
At the National Commodity and Derivatives Exchange, chana for May delivery rose by Rs 138, or 3.02 per cent, to Rs 4,700 per quintal, with an open interest for 4,150 lots.
Similarly, chana for delivery in June increased by Rs 125, or 2.92 per cent, to Rs 4,765 per quintal, with an open interest of 1,18,100 lots.
Traders said speculators increasing their holdings on rising demand in spot markets, mainly pushed up chana prices.

Besides, lower output estiamtes and fall in supplies from growing regions, attributed rise in chana prices, they said.