Rising demand lifts chana prices by 1.3%

Restricted supplies from producing belts also helped prices

Chana prices were up by 1.26% to Rs 5,153 per quintal amid strong spot demand and restricted supplies from producing belts, in futures market today as traders widened their positions.

At the National Commodity and Derivatives Exchange, chana for delivery in October shot up by Rs 64, or 1.26% to Rs 5,153 per quintal with an open interest of 440 lots.

In a similar fashion, the commodity for delivery in November traded higher by Rs 54, or 1.04% to Rs 5,226 per quintal in 69,220 lots.

Analysts attributed the rise in chana prices to rising demand in the spot market, driven by festive season against restricted supplies from producing belts.