Chana up by 1.9% on strong spot demand

Restricted supplies from producing regions also helped prices

Amid strong domestic demand at spot market and restricted supplies from producing regions, chana prices surged by 1.91% to Rs 4,526 per quintal in futures trade today as participants widened their bets.

Further, reports of damage to its crop due to recent unseasonal rains in some growing states also supported chana prices uptrend.

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At the National Commodity and Derivatives Exchange, chana for delivery in May jumped Rs 85, or 1.91%, to Rs 4,526 per quintal, with an open interest of 22,230 lots.

On similar lines, the commodity for delivery in April was quoting higher by Rs 73, or 1.67%, to Rs 4,457 per quintal in 28,200 lots.

Analysts said besides strong demand in the spot market, restricted supplies from producing belts pushed up chana prices at the futures trade.