Upsurge in demand lifts chana futures 1.61 pc

Chana prices surged by 1.61 per cent to Rs 4,734 per quintal in futures trade today as participants built up fresh positions, driven by uptick in demand from dal mills at spot market.
Besides, tight stocks position due to fall in arrivals from producing regions too fuelled the uptrend.
At the National Commodity and Derivatives Exchange, chana for delivery in December shot up by Rs 75, or 1.61 per cent to Rs 4,734 per quintal with an open interest of 28,720 lots.
Similarly, the commodity for delivery in November contracts was trading higher by Rs 68, or 1.40 per cent to Rs 4,910 per quintal in 16,760 lots.

Analysts attributed the sharp rise in chana prices to pick-up in demand in the physical market against restricted supplies from producing regions.