Chana futures remain up on spot demand

Chana futures prices rose up by Rs 14 to Rs 2,232 per quintal today, largely on hopes of a pick up in spot demand due to festivals and the upcoming wedding season.

Demand in the coming days is likely to improve due to Diwali and the upcoming wedding season.

At the Multi commodity Exchange counter, chana for delivery in October remained higher by Rs 14, or 0.63 per cent, to Rs 2,232 per quintal, with a trading volume of 21 lots.

The commodity for delivery in November also traded higher by Rs 7, or 0.30 per cent, to Rs 2,313 per quintal in 11 lots.

Market analysts said fresh positions created by speculators on pick up in demand in the spot market due to festivals and the upcoming wedding season against limited arrivals, mainly led to a rise in chana futures prices.