Chana futures surge on spot demand, thin supply

NEW DELHI: Chana prices surged by Rs 74 to Rs 4,821 per quintal in futures trade today on pick up in demand in the spot market ahead of festive season amid thin supplies.

At the National Commodity Derivatives Exchange, chana for delivery in July surged by Rs 74, or 1.56 per cent, to Rs 4,821 per quintal, with an open interest of 2,090 lots.

Similarly, the commodity for delivery in August jumped up by Rs 69, or 1.44 per cent, to Rs 4,877 per quintal in 1,03,560 lots.

Traders said pickup in demand in spot market for the festive season and reports of deficient rains in growing regions mainly led to an upsurge in chana prices at futures trade.