Chana up 0.5% on spot demand

Restricted arrivals, lower output concerns influence prices

Chana prices gained Rs 25 to Rs 4,860 per quintal in futures trade today as speculators created fresh positions, tracking a firm spot market trend.

Restricted arrivals of the commodity in the physical market due to lower estimated output influenced chana prices.

At the National Commodity and Derivatives Exchange, chana for delivery in November rose by Rs 25, or 0.52%, to Rs 4,860 per quintal, with an open interest of 9,910 lots.

September chana moved up by Rs 15, or 0.32%, to Rs 4,665 per quintal, with an open interest of 61,550 lots.

Marketmen said fresh buying by speculators on the back of a rise in spot market demand and lower estimated output pushed up chana prices at futures market.