Chana futures strengthen 0.50 per cent on tight supply

NEW DELHI: Chana prices rose 0.50 per cent to Rs 2,842 per quintal in futures trade today as speculators enlarged positions on rising demand in the spot market.

Tight supplies from producing regions further fuelled the uptrend in chana prices.

At the National Commodity and Derivatives Exchange, chana for delivery in July advanced by Rs 14, or 0.50 per cent, to Rs 2,842 per quintal with an open interest of 77,250 lots.

Likewise, the commodity for delivery in July gained Rs 12, or 0.41 per cent, to Rs 2,906 per quintal in 1,14,410 lots.

Analysts said speculators enlarged positions on the back of an upsurge in demand in the spot market which kept chana prices higher for the second day at futures trade.