Chana futures climb over 2 pc on lower output estimates

Chana prices surged by 2.05 per cent to Rs 4,025 per quintal in futures trading today as speculators enlarged positions, triggered by expectations of lower output due to unseasonal rains in growing region.
Besides, rising demand in the spot market supported the upside.
At the National Commodity and Derivatives Exchange (NCDEX), chana for delivery in April month spurted by Rs 81, or 2.05 per cent to Rs 4,025 per quintal with an open interest of 61,770 lots.
Similarly, the commodity for delivery in May contracts shot up by Rs 71, or 1.81 per cent to Rs 3,986 per quintal in 95,250 lots.

Analysts said besides expectations of lower output on unseasonal rains in growing regions, rising demand in the spot market,mainly pushed up chana prices at futures trade.