Chana up 0.4% on spot demand

Analysts said pick up in demand in the spot market, tight stocks position on restricted supplies from producing belts led to the rise in prices

Chana prices gained 0.35% to Rs 3,455 per quintal in futures trade today as speculators created fresh positions amid rising demand in spot markets.

At the National Commodity and Derivatives Exchange, chana for delivery in April rose by Rs 12, or 0.35%, to Rs 3,455 per quintal with an open interest of 54,930 lots.

However, the commodity for delivery in February held steady at Rs 3,286 per quintal in 1,00,280 lots.

Analysts said apart from pick up in demand in the spot market, tight stocks position on restricted supplies from producing belts led to the rise in chana prices at futures trade.