Spot demand lifts chana futures

Chana prices surged by 1.60 per cent to Rs 4,183 per quintal in futures trade today as participants indulged in creating fresh positions amid positive cues from spot market on pick-up in demand.
Besides, fall in arrivals from producing regions and reports of lower output fuelled the uptrend.
At the National Commodity and Derivatives Exchange, chana for delivery in July shot up by Rs 66, or 1.60 per cent to Rs 4,183 per quintal with an open interest of 1,37,270 lots.
Also, the commodity for delivery in August traded higher by Rs 57, or 1.34 per cent to Rs 4,306 per quintal in 1,35,430 lots.

Market analysts said fresh position built up by speculators, driven by pick up in demand in the spot market against restricted supplies from producing belts, mainly pushed up chana prices at futures trade.