Chana rises on tight supply

Chana prices moved up by Rs 12 to Rs 4,540 per quintal in futures trading today on pick up in demand ahead of the festive season amid thin supplies in the spot market.

Weak monsoon rains also aided sentiment to some extent.

At the National Commodity Derivatives Exchange, chana for delivery in August moved up by Rs 12, or 0.27%, to Rs 4,540 per quintal, with an open interest of 107,570 lots.

Similarly, the commodity for delivery in the July edged up by Rs 9, or 0.20%, to Rs 4,460 per quintal in 15,050 lots.

Market analysts said pick up in demand ahead of festive season amid thin supplies in the spot market mainly kept chana futures firm.