Chana futures rise as spot demand picks up

Chana prices rose by Rs 12 to Rs 2,380 per quintal in futures market today as traders enlarging their positions, driven by a pick up in demand in the spot market.

At the Multi Commodity Exchange, chana for delivery in November month fell by Rs 12, or 0.53 per cent to Rs 2280 per quintal with a business volume of 2 lots.

Similarly, the commodity for delivery in December contract traded marginally higher by rupee one, or 0.04 per cent to Rs 2310 per quintal in just one lot.

Traders said fresh buying by traders on hopes of pick up in demand during marriage season mainly led to the rise in chana prices in the futures trade.