Chana futures remain firm as demand picks up

Chana prices rose by 1.78 per cent to Rs 4,120 per quintal in futures trade today, largely supported by rising demand in the spot markets.

Further, lower output reports due to unseasonal rains in growing regions supported the upside.

At the National Commodity and Derivatives Exchange (NCDEX), chana for delivery in April month surged by Rs 72, or 1.78 per cent, to Rs 4,120 per quintal with an open interest of 61,300 lots.

Analysts said besides rising demand in the spot market, expectations of lower output on unseasonal rains in growing regions, mainly kept chana prices higher at futures trade.