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Chana futures remain higher on subdued output

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Press Trust of India New Delhi
Chana prices advanced by 0.68 per cent to Rs 4,138 per quintal in futures market today as speculators indulged in enlarging positions amid concerns over lower output this year.

Besides, pick-up in demand in the spot market supported the upside.

At the National Commodity and Derivatives Exchange (NCDEX), chana for delivery in May moved up by Rs 28, or 0.68 per cent, to Rs 4,138 per quintal with an open interest of 1,08,560 lots.

Similarly, the commodity for delivery in June traded higher by Rs 27, or 0.65 per cent, to Rs 4,198 per quintal in 69,170 lots.

Analysts attributed the rise in chana futures to concerns over lower output due to unseasonal rainfall in key producing areas.
 

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First Published: Apr 27 2015 | 12:07 PM IST

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