Chana futures up on firm spot market demand

Chana prices rose by Rs 47 to Rs 2,857 per quintal in futures trade today as speculators enlarged their positions on expectations of a rise domestic demand.

Restricted arrivals from producing region of Rajasthan and Madhya Pradesh further supported the uptrend in futures trade.  

At the National Commodity and Derivatives Exchange, chana for delivery in September rose by Rs 47, or 1.67%, to Rs 2,857 per quintal, with an open interest of 12,920 lots.

Similarly, chana for delivery in August traded Rs 45, or 1.64%, higher to Rs 2,794 per quintal, with an open interest of 1,48,860 lots.

Likewise, price for delivery in July moved up by Rs 43, or 1.61%, to Rs 2,718 per quintal, with an open interest of 2,26,910 lots.  

 

Traders said increasing of positions by speculators on hopes of a rise in demand in the spot market mainly pushed up chana prices in futures trade.