Chana futures rise on delay in sowing

NEW DELHI: Chana futures prices today gained 0.31 per cent to Rs 4,834 per quintal as speculators created fresh positions amid delayed sowing due to deficit rains in key producing regions.

At the National Commodity Derivatives Exchange, chana for delivery in August rose by Rs 15, or 0.31 per cent to Rs 4,834 per quintal, with an open interest of 91,200 lots.

Similarly, the commodity for delivery in September rose by similar margin to Rs 4,922 per quintal in 38,280 lots.

Analysts said fresh positions created by speculators following delayed sowing due to lower rainfall in key growing areas and rising spot demand, influenced chana prices at futures trade here.