Rising demand lifts chana futures by 1.53%

Chana prices moved up by 1.53 per cent to Rs 3,847 per quintal in futures trade today as participants created positions, driven by rising demand from dal mills in the spot market.
Besides, tight stock positions following drop in arrivals from producing regions, fuelled the uptrend.
At the National Commodity and Derivatives Exchange, chana for delivery in March contracts was trading higher by Rs 58, or 1.53 per cent, at Rs 3,847 per quintal with an open interest of 88,790 lots.
Likewise, the commodity for delivery in April contracts gained Rs 56, or 1.46 per cent, to Rs 3,883 per quintal in 30,930 lots.

Analysts attributed the rise in chana prices to surging demand in the spot market against restricted supplies from producing regions.