Chana prices rise on low arrivals

Chana futures prices today moved up by Rs 3.50% to Rs 4,076 per quintal, as speculators enlarged their positions,triggered by a fall in arrivals from the producing region.

At the National Commodity Derivatives Exchange, the June delivery shot up by Rs 138, or 3.50%, to Rs 4,076 per quintal, with an open interest of 55,340 lots.

The May delivery jumped up by Rs 129, or 3.37%, to Rs 3962 per quintal in 90,120 lots.

Analysts said besides decline in arrivals from producing region, pick up in demand in the spot market mainly pushed up chana prices at futures market.