Chana remains firm on restricted supply

Chana prices rose by Rs 14 to Rs 4,224 per quintal in futures trade today as speculators indulged in creating speculative position even after authorities imposed 20 per cent special margin on long positions.

At the National Commodity Derivatives Exchange, chana for May delivery rose by Rs 14, or 0.33%, to Rs 4,224 per quintal, with an open interest of 33,430 lots.

The June contract gained Rs 14, or 0.32%, to Rs 4,340 per quintal, with an open interest of 97,870 lots.

Analysts said chana prices rose at futures trade on fall in supplies, following reports of a likely decline in production in the current crop year, and the prospect of costlier imports in view of a weakening rupee.