Chana futures rise on spot demand

Chana prices rose by Rs 7 to Rs 2,640 per quintal in futures trade today, as speculators enlarged their positions following pick up in demand.

At the National Commodity Derivatives Exchange, chana for February delivery contract rose by Rs 7, or 0.27 per cent, to Rs 2,640 per quintal, with an open interest of 58,890 lots.

Similarly, the commodity for delivery in March traded higher by Rs 7, or 0.26 per cent, to Rs 2,718 per quintal, with an open interest of 91,950 lots.

Analysts said increased buying by speculators on pick up in demand in the spot market mainly led to the rise in chana futures prices.