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Chana prices rose by 1.32% to Rs 3,848 per quintal in futures trading today after participants enlarged speculative positions amid expectations of lower output due to unseasonal rains in growing regions.
Besides, rising demand in the spot market supported the upside.
At the National Commodity and Derivatives Exchange (NCDEX), chana for delivery in May shot up by Rs 50, or 1.32%, to Rs 3,848 per quintal with an open interest of 1,10,510 lots.
In a similar fashion, the commodity for delivery in April traded higher by Rs 47, or 1.24%, to Rs 3,833 per quintal in 1,06,370 lots.
Analysts said apart from expectations of lower output due to unseasonal rains, rising demand in the spot market mainly led to an upsurge in chana prices at futures trade.
