Chana futures recovers 2.97% on strong demand

NEW DELHI: Chana prices recovered sharply by by 2.97 per cent to Rs 3,261 per quintal in futures trading today as speculators built-up positions, driven by rising demand from dal mills at spot markets amid restricted arrivals from producing regions.

At the National Commodity and Derivatives Exchange, chana for delivery in May spurted by Rs 94, or 2.97 per cent to Rs 3,261 per quintal with an open interest of 34,810 lots.

Also, the commodity for delivery in April up by Rs 92, or 2.95 per cent to Rs 3,210 per quintal in 85,220 lots.

Analysts said speculators creating positions, supported by rising demand from dal mills against fall in supplies from producing regions mainly attributed the upsurge in chana prices at futures trade.