Chana gains 1.5% on spot demand

Lower arrivals influence prices

Chana prices rose for the second straight day by adding Rs 66 to Rs 4,529 per quintal in futures trading today as speculators enlarged their positions, tracking a firm trend at spot market on pick up in demand.

At the National Commodity and Derivatives Exchange, chana for delivery in October moved up by Rs 66, or 1.48%, to Rs 4,529 per quintal, with an open interest of 68,290 lots.

November chana traded higher by Rs 59, or 1.38%, to Rs 4,335 per quintal in 56,340 lots.

Traders attributed the rise in chana prices to fresh positions created by speculators, supported by a firm trend at spot market on pick up in demand amid lower arrivals from producing belts.