Chana futures up 2.05 pc on strong demand

Chana prices went up by 2.05 per cent to Rs 4,141 per quintal in futures trade today as participants were engaged in building up positions, taking positive cues from spot market on rising demand from dal mills.

The uptrend in the chana prices was fuelled by tight stocks positions following drop in arrivals from producing regions.

At the National Commodity and Derivatives Exchange, chana for delivery in the current month gained Rs 83, or 2.05 per cent, to Rs 4,140 per quintal with an open interest of 2,510 lots.

Similarly, the commodity for delivery in August traded higher by Rs 69, or 1.65 per cent, to Rs 4,250 per quintal in 78,920 lots.

Analysts said raising of bets by participants owing to increased demand from dal mills against restricted arrivals from producing belts kept chana prices high in futures trade.