Chana up 0.5% on tight stocks

Chana prices were up 0.55 per cent to Rs 4,558 per quintal in futures trade today after participants created positions on the back of tight supplies from producing regions at spot market against pickup in demand.

At the National Commodity and Derivatives Exchange, chana for delivery in September rose Rs 25, or 0.55 per cent to Rs 4,558 per quintal with an open interest of 1,48,900 lots.

Similarly, the commodity for August contracts gained Rs 21, or 0.46 per cent to Rs 4,569 per quintal in 12,920 lots.

Analysts said, besides tight stocks in the market following restricted arrivals from producing belts, pickup in demand mainly led to the rise in chana prices in futures trade.