Chana up 2.3% on rising demand

Chana prices for delivery in October traded higher by 1.47%

Chana rose by Rs 72 to Rs 3,140 per quintal in futures trade today as traders enlarged holdings on rising demand in the spot market.

 

Restricted arrivals of the commodity in the physical market, tracking a pick-up in festival demand.

 

At the National Commodity and Derivatives Exchange, chana for delivery in November rose by Rs 72, or 2.34%, to Rs 3,140 per quintal, with an open interest of 1,09,190 lots.

 

Similarly, chana prices for delivery in October traded higher by Rs 44, or 1.47%, to Rs 3,020 per quintal, with an open interest of 61,180 lots.

 

Traders said speculators increased their holdings on hopes of rise in spot market demand against restricted arrivals of the commodity in the physical market.

 

     They said increased enquiries from millers at lower levels against fall in supplies from the producing regions of Gujarat and Rajasthan further supported the uptrend.