Uptick in demand lifts chana futures by 1.3%

Chana prices were up 1.31% to Rs 4,783 per quintal in futures trade today as participants enlarged positions, driven by rising demand in the spot market.

Tight stocks position on restricted supplies from producing region supported the upside.

At National Commodity and Derivatives Exchange, chana for delivery in far-month January 2016 rose Rs 62, or 1.31% to Rs 4,783 per quintal with an open interest of 26,400 lots.

On similar lines, the commodity for delivery in December contracts traded higher by Rs 56, or 1.12% to Rs 5,058 per quintal in 50,780 lots.

Analysts attributed the rise in chana prices to pick up in demand in the spot market against restricted supplies from producing belts.