Chana prices rose by Rs 88 to Rs 4,790 per quintal in futures trade today as speculators created fresh positions, driven by a rise in demand ahead of festive season amid thin supplies.
At the National Commodity Derivatives Exchange, the August contract for chana rose by Rs 88, or 1.87%, to Rs 4,790 per quintal, with an open interest of 1,04,240 lots.
The July contract moved up by Rs 75, or 1.62%, to Rs 4,700 per quintal in 1,970 lots.
Traders said fresh buying by speculators on pick up in spot market demand for the festive season mainly led an upsurge in chana prices at futures trade.
They said a slow sowing of kharif pulses on deficient monsoon rains also supporting the upsurge in chana prices.
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