Chana futures rise 0.95% on strong demand

Chana prices rose by 0.95 per cent to Rs 3,901 per quintal in futures trade today as participants built up fresh positions, taking positive cues from spot market on rising demand from dal mills.

At the National Commodity and Derivatives Exchange, chana for delivery in August increased by Rs 37, or 0.95 per cent, to Rs 3,901 per quintal with an open interest of 1,11,630 lots.

Similarly, the commodity for delivery in the current month traded higher by Rs 36, or 0.94 per cent, to Rs 3,856 per quintal in 18,820 lots.

Analysts said, raising of bets by participants owing to increased demand from dal mills against restricted arrivals from producing belts due to weak sowing progress of kharif pulses kept chana prices higher in futures trade.