Chana up 0.37% on spot demand

Restricted arrivals, lower estimated output influence prices

Chana prices rose by Rs 37 to Rs 4,726 per quintal in futures trade today after speculators enlarged positions, driven by the pick up in spot market demand.

At the National Commodity and Derivatives Exchange, chana for delivery in September rose by Rs 37, or 0.37%, to Rs 4,726 per quintal, with an open interest of 60,930 lots.

October chana gained Rs 35, or 0.73%, to Rs 4,816 per quintal in 41,360 lots.

Marketmen said increased positions created by speculators on the back of a pick up in spot market demand against restricted arrivals from producing belts due to lower estimated output kept chana futures firm.