Chana up 2% on tight supply

Chana prices jumped by 2.25% to Rs 4,912 per quintal in futures market today as traders enlarged positions amid fall in supplies from producing belts at the spot market against rising demand.

At the National Commodity and Derivatives Exchange, chana for delivery in October shot up by Rs 108, or 2.25%, to Rs 4,912 per quintal with an open interest of 13,670 lots.

Similarly, the commodity for delivery in November traded higher by Rs 93, or 1.89%, to Rs 5,026 per quintal in 87,590 lots.

Analysts said speculators enlarged positions supported by rising demand in the spot market amid lower arrivals from producing belts which mainly influenced chana prices at futures trade.