Chana futures remain up on tight supply, rising demand

Chana prices gained another 2.15 per cent to Rs 4,792 per quintal in futures trade today as traders enlarged positions, triggered by fall in supplies from producing belts at spot market against rising demand.

At the National Commodity and Derivatives Exchange, chana for delivery in far-month November spurted by Rs 101, or 2.15 per cent to Rs 4,792 per quintal with an open interest of 73,960 lots.

Similarly, the commodity for delivery in October contracts traded higher by Rs 85, or 1.83 per cent to Rs 4,719 per quintal om 53,050 lots.

Analysts said speculators enlarged positions on the back of rising demand in the spot market against decline in supplies from producing regions, mainly kept chana prices higher at futures trade.