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Chana up 1.4% on rising spot demand

Commodity for delivery in January gained Rs 42, or 1.25%

Press Trust of India New Delhi
Chana prices advanced by 1.44% to Rs 3,463 per quintal as speculators enlarged positions amid rising domestic demand.

Besides, reports of likely decline in crop output this year fuelled the uptrend.

At the National Commodity and Derivatives Exchange, chana for delivery in February advanced by Rs 49, or 1.44%, to Rs 3,463 per quintal with an open interest of 40,780 lots.

Similarly, the commodity for delivery in January gained Rs 42, or 1.25%, to Rs 3,413 per quintal in 76,560 lots.

Analysts said apart from rising demand in spot market, restricted supplies from major producing belts led to the rise in chana prices in futures trade.
 

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First Published: Dec 26 2014 | 12:20 PM IST

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