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Chana remains up on thin supply

New positions created by speculators also pulled prices up

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Press Trust of India New Delhi

Chana prices rose by Rs 17 to Rs 4,163 per quintal in futures trade today on speculators buying following firm spot market trend on thin supply and expectations of lower production this year.

At the National Commodity Derivatives Exchange, chana for delivery in June added Rs 17, or 0.41%, to Rs 4,163 per quintal, with an open interest of 5,560 lots.

The July contract also moved up by Rs 9, or 0.21%, to Rs 4,213 per quintal in 107,050 lots.

Analysts said thin supplies in the physical market and expectations of lower productions this year mainly kept chana prices remain firm at futures trade.

 

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First Published: Jun 20 2012 | 1:01 PM IST

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