Spot demand lifts chana futures by 0.39 per cent

Chana prices were up by 0.39 per cent to Rs 4,610 per quintal in futures trade today as participants widened their positions, driven by pick up in demand in spot markets.

Also, restricted arrivals from producing regions supported the increase.

At the National Commodity and Derivatives Exchange, chana for delivery in August rose by Rs 18, or 0.39 per cent to Rs 4,610 per quintal with an open interest of 1,50,680 lots.

Similarly, commodity for delivery in July contracts edged up by Rs 7, or 0.15 per cent to Rs 4,540 per quintal in 1,480 lots.

Analysts said positions enlarged by traders after pick up in demand in the spot market against restricted supplies from producing regions mainly led to rise in chana prices at futures trade.