Chana may go up

COMMODITY SPIKES

The continuing turmoil in Rajasthan could further strengthen the chana near-month contract. The commodity, which rose Rs 80 a quintal in the past week, is expected to climb Rs 50 more.

Rajasthan, which supplies chana to the northern part of the country, will double its output to 9 lakh tonnes this year over that of the last year. With the southwest monsoon approaching and demand for besan expected to go up, market sources said chana contract for June delivery this week could stretch up to Rs 2,300 a quintal.

The June contract closed at Rs 2,242 a quintal on Saturday on the NCDEX, up 3.37 per cent compared with the previous week's close.