Chana futures rise on pick up in spot demand

In a range-bound trade, chana prices shot up by Rs 22 to Rs 2,485 per quintal in futures trading today, as speculators enlarged their positions on expectations of rise in demand at the spot market. 

Tight supplies from producing regions further supported the uptrend in chana prices.

At the Multi Commodity Exchange platform, chana for delivery in January-month shot up by Rs 22, or 0.89 per cent to Rs 2,485 per quintal, with a business turnover of single lot.

Traders said speculators enlarged their positions on hopes of rise in demand in the spot market due to marriage season, helped the chana futures prices to trade higher.