Chana futures rise 0.30% on lower output estimates

Chana prices were up by 0.30 per cent to Rs 4,634 per quintal in futures trading today largely supported by lower output estimates amid pick-up in demand in the physical markets.

At the National Commodity and Derivatives Exchange, chana for delivery in June month rose by Rs 14, or 0.30 per cent to Rs 4,634 per quintal with an open interest of 25,970 lots.

Analysts said the rise in chana prices was mostly attributed to speculative position created by participants, driven by estimates of lower output this year.