Chana moves up 1% on low output

Chana prices rose by Rs 39 to Rs 3,442 per quintal in futures trade today on speculations of a lower crop this year due to adverse weather conditions.

At the National Commodity and Derivatives Exchange, chana for delivery in March moved up by Rs 39, or 1.15%, to Rs 3,442 per quintal with an open interest of 71,410 lots.

The February contract gained Rs 31, or 0.86%, to Rs 3625 per quintal in 61,430 lots.

Analysts said expectations of a lower crop this year and pick up in demand in spot market due to ongoing marriage season mainly pushed up chana prices at futures trade.