Chana up 0.3% on spot demand

Speculatos enlarge positions in the commodity

Chana remained higher for the second straight day and prices rose further by Rs 10 to Rs 3,072 per quintal in futures trade today as speculators enlarged positions, supported by rising demand in the spot market.

At the National Commodity and Derivative Exchange, chana for delivery in May added Rs 10, or 0.33%, to Rs 3,072 per quintal with an open interest of 30,710 lots.

April chana traded higher by Rs 9, or 0.30%, to Rs 3,032 per quintal in 82,570 lots.

Analysts said rising demand in the spot markets mainly influenced chana prices to rise at futures trade as speculators created positions.