 "Spot demand lifts chana futures, climb 1.92%")
Chana prices jumped 1.92% to Rs 4,245 per quintal in futures trade today mostly powered by rising demand at the physical markets.
Moreover, expectations of lower output this year also supported the upward movement.
At the National Commodity and Derivatives Exchange, chana for delivery in July spurted by Rs 80, or 1.92% to Rs 4,245 per quintal with an open interest of 97,460 lots.
Market analysts attributed the sharp rise in chana prices to pickup in demand at the spot market amid expectations of lower output this year.
Moreover, expectations of lower output this year also supported the upward movement.
At the National Commodity and Derivatives Exchange, chana for delivery in July spurted by Rs 80, or 1.92% to Rs 4,245 per quintal with an open interest of 97,460 lots.
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Similarly, the commodity for delivery in August contracts shot up by Rs 50, or 1.16% to Rs 4,345 per quintal in 1,62,490 lots.
Market analysts attributed the sharp rise in chana prices to pickup in demand at the spot market amid expectations of lower output this year.
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