Rising demand lifts chana futures by 2.17%

Chana prices were up by 2.17 per cent to Rs 5,094 per quintal in futures trading today as traders built up fresh positions on the back of uptick in demand at the spot market amid restricted supplies from producing belts.
In addition, expectations of lower output from the major producing regions fuelled the upside.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month May shot up by Rs 108, or 2.17 per cent, to Rs 5,094 per quintal, with an open interest of 37,690 lots.
In a similar fashion, the commodity for delivery in April shot up by Rs 104, or 2.12 per cent, to Rs 5,019 per quintal in 1,140 lots.

Analysts said besides rising demand in the spot market, restricted supplies from producing belts mainly pushed up chana prices at futures trade.