Chana futures up on firm spot demand

Chana futures prices rose by Rs 36 to Rs 2,335 per quintal today, as speculators enlarged their positions on expectations of a rise in demand in the spot market for the marriage season.

Restricted arrivals from producing region of Kota in Rajasthan, Gujarat and Maharashtra also influenced trading sentiment in domestic as well as futures trading.

On the Multi Commodity Exchange counter, chana for delivery in November rose by Rs 36 to Rs 2,335 per quintal, with a trading volume of 25 lots.

Similarly, the chana for delivery in December traded Rs 17, or 0.73 per cent higher to Rs 2,348 per quintal, with a business turnover of just one lot.

Traders said speculators increasing their positions on hopes of a rise in demand in the spot market for the marriage season.

They said tight stocks position in the physical markets further supported the uptrend.