Tight supply lifts chana by 1.3%

Commodity for delivery in November contracts moved up by 1.2%

Supported by rising spot demand and tight supplies from producing regions, chana prices were up 1.26% at Rs 4,992 per quintal in futures trade today as participants built their bets further.

At National Commodity and Derivatives Exchange, chana for delivery in December gained Rs 62, or 1.26%, to Rs 4,992 per quintal with an open interest of 54,380 lots.

On similar lines, the commodity for delivery in November contracts moved up by Rs 58, or 1.20%, to Rs 4,902 per quintal in 17,770 lots.

Analysts attributed the gain in chana prices to pick-up in demand in the spot market against restricted supplies from producing belts.