Chana extends gains on lower output concerns; up 1.04 pc

Chana prices were up by 1.04 per cent to Rs 4,283 per quintal in futures trade today as participants created speculative positions on likely lower output due to unseasonal rainfall in key growing belts.
Also, pickup in demand in the spot market supported the upside.
At the National Commodity and Derivatives Exchange, chana for delivery in June rose by Rs 44 or 1.04 per cent to Rs 4,283 per quintal with an open interest of 93,020 lots.
Similarly, the commodity for delivery in May contracts moved up by Rs 36 or 0.86 per cent to Rs 4,243 per quintal in 94,600 lots.

Analysts attributed the rise in chana futures to reports of likely lower output in the face of unseasonal rains in key producing areas.