Chana futures up 1.3%

Reports of likely fall in output also supported prices

Chana prices rose further by Rs 53 to Rs 4,218 per quintal in futures trade today, as participants enlarged their positions, driven by reports of a likely fall in its crop.

Also, strong demand at spot markets also supported the upside in chana futures prices.

At the National Commodity Derivatives Exchange, chana for May contract rose by Rs 53, or 1.27%, to Rs 4,218 per quintal, with an open interest of 59,120 lots.

The June contract gained Rs 49, or 1.14%, to Rs 4,337 per quintal, with an open interest of 90,500 lots.

Analysts said fresh positions created by speculators following reports that chana's production may decline in the current crop year, influenced prices at futures trade here.