Supported by a strong demand at the spot markets, chana prices moved up by Rs 60 to Rs 3,298 per quintal in futures trade today on increased buying by speculators.
Chana futures extended gains for the fourth straight session on concerns that production might fall on reports of lower acreage and unfavourable weather conditions in producing region, traders said.
At the National Commodity and Derivatives Exchange, chana for delivery in February rose by Rs 60, or 1.85%, to Rs 3,298 per quintal, with a business turnover of 104,170 lots.
The March contrcat edged up by Rs 16, or 0.50%, to Rs 3,210 per quintal, with an open interest of 52,130 lots.
Analysts said increased buying by speculators, triggered by good demand in the spot market mainly led to the rise in chana futures prices.
They said lower acreage and unfavourable weather conditions, which can adversely impact yield in key growing states, mainly pushed up chana prices in futures trade.
