Chana futures up on pick up in spot demand

Chana prices rose by Rs 6 to Rs 2,471 per quintal in futures trade today on strong demand in the spot market amid a likely delay in arrival of stocks.

However, hopes of a bumper output capped the upside.

At the Multi Commodity Exchange platform, chana for January contract rose by Rs 6, or 0.24 per cent, to Rs 2,471 per quintal, with a trading volume of two lots.

Market analysts said besides strong demand in the spot market, a likely delay in arrivals, as farmers went for re-sowing due to excessive rainfall in some areas, also supported the rise in chana futures prices.