Supported by the rising spot demand and restricted arrivals from producing belts, chana prices shot up 1.20 per cent to Rs 4,905 per quintal in futures trade today as traders widened their positions.
At the National Commodity and Derivatives Exchange, chana for delivery in January 2016 rose sharply by Rs 58, or 1.20 per cent, to Rs 4,905 per quintal, with an open interest of 25,570 lots.
On similar lines, the commodity for delivery in April-2016 traded higher by Rs 43, or 0.97 per cent, to Rs 4,480 per quintal in 17,970 lots.
Analysts attributed the rise in chana prices to increased positions built up by speculators, driven by rising demand in the spot market against restricted supplies from producing belts.
