Chana futures trade higher on spot demand

Chana prices moved up by Rs 7 to Rs 2,719 per quintal in futures trade today on pick up in demand in the spot market amid tight supply. 

On the National Commodity and Derivatives Exchange (NCDEX), chana for delivery in March contract moved up by Rs 7, or 0.26 per cent to Rs 2,719 per quintal, with an open interest of 97,810 lots. 

Similarly, the commodity for delivery in February traded higher by Rs 2, or 0.08 per cent to Rs 2,650 per quintal, with an open interest of 64,940 lots. 

Analysts said pick up in demand in the spot market against limited arrivals mainly led to the rise in chana futures prices.