Chana futures gain on rising spot demand

Chana futures prices rose by Rs 37 to Rs 2,527 per quintal today, largely on the back of pick up in demand in the spot market due to the ongoing marriage season.

Fall in supplies from producing regions of Rajasthan and Gujarat further supported the uptrend in futures trade. 

At the Multi Commodity Exchange counter, chana for delivery in January rose Rs 37, or 1.49 per cent, to Rs 2,527 per quintal, while December delivery rose by Rs 23 or 0.94 per cent to Rs 2,465 per quintal.

Traders said speculators increasing their positions on hopes of a rise in demand in the spot market due to the ongoing marriage season, helped the upsurge in chana futures prices.