Chana futures up on pick up in demand

Chana prices were up by 1.13 per cent to Rs 4,486 per quintal in futures trade today as participants created fresh positions, driven by pick up in demand at the spot market.
Further, expectations of lower production due to unseasonal rains in North India too supported chana prices' uptrend.
At the National Commodity and Derivatives Exchange, chana for delivery in May rose by Rs 50 or 1.13 per cent to Rs 4,486 per quintal, with an open interest of 18,890 lots.
On similar lines, the commodity for delivery in April edged up by Rs 45 or 1.03 per cent to Rs 4,416 per quintal in 29,600 lots.

Analysts said fresh positions built up by traders on the back of pick up in demand in the spot market led to the rise in chana prices at futures trade.