Chana up 1.2% on rising demand

Commodity for delivery in December traded higher by 0.56%

Amid rising spot demand and limited arrivals from producing belts, chana prices advanced by 1.24% to Rs 4,894 per quintal in futures trade today as participants raised their bets.

At National Commodity and Derivatives Exchange, chana for delivery in November gained Rs 60, or 1.24%, to Rs 4,894 per quintal, with an open interest of 4,650 lots.

In a similar fashion, the commodity for delivery in December traded higher by Rs 28, or 0.56%, to Rs 5,015 per quintal in 56,080 lots.

Analysts attributed sustained rise in chana prices to firm demand in the spot market against restricted supplies from producing belts.