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Chana futures up as demand rises

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Press Trust of India New Delhi

Chana prices rose by Rs 14 to Rs 2,602 per quintal in futures trading today as speculators enlarged their positions on the back of a pick-up in spot demand.

A fall in arrivals from producing regions also supported the uptrend in chana prices.

At the National Commodity and Derivatives Exchange, chana for July delivery rose by Rs 14, or 0.54%, to Rs 2,602 per quintal with an open interest for 1,45,350 lots. 

Similarly, chana for June contract delivery gained Rs 13, or 0.52%, to Rs 2,526 per quintal in 1,79,000 lots. Traders said speculators increasing their positions amid a rise in spot demand mainly pushed up chana prices in futures trade.

 

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First Published: May 25 2011 | 2:26 PM IST

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