Chana remains up on thin supply

Chana prices remained firm for the second straight day by adding Rs 38 to Rs 4,764 per quintal in futures trading today as speculators enlarged their positions, tracking a firming trend at spot market.

Marketmen said pick up in demand ahead of festive season amid thin supplies mainly pushed up chana futures prices.

They said slow progress of summer sown pulses due to less rainfall also supported the upside.

At the National Commodity Derivatives Exchange, the August contract for chana added Rs 38, or 0.80%, to Rs 4,764 per quintal with an open interest of 1,03,350 lots.

The July contract gained Rs 26, or 0.56%, to Rs 4,685 per quintal in 1,590 lots.