Chana up 4%; hit upper circuit on strong demand

Firm trend at spot market on upsurge in demand, restricted supplies pushed up chana prices

Amid restricted supplies from growing regions and uptick in domestic demand at spot market, chana prices flared up by 3.99 per cent to hit upper limit at Rs 5,315 per quintal in futures trade today.

At the National Commodity and Derivatives Exchange, chana for delivery in April surged by Rs 204, or 3.99 per cent, to hit an upper circuit at Rs 5,315 per quintal, with an open interest of 520 lots.

Read more from our special coverage on "CHANA PRICES"

• Chana falls by 1.3% on low demand
• Chana up by 1.9% on strong spot demand
• Chana prices fall by 0.4% on muted demand
• Chana up by 1.7% on strong demand
• Chana falls by 0.5% on adequate stocks

 

Similarly, the commodity for delivery in far-month May jumped Rs 207, or 3.99 per cent, to Rs 5,392 per quintal in 38,850 lots.

Analysts said apart from a firm trend at spot market on upsurge in demand, restricted supplies from producing belts mainly pushed up chana prices to hit upper limit at futures trade.