Chana futures trade higher on good demand

NEW DELHI: Chana prices inched up by Rs 17 to Rs 2,526 per quintal in futures trade today as speculators enlarged their positions on expectations of pick-up in demand at domestic markets.

Some enquiries from dal mills further fuelled the uptrend in chana prices.

At the National Commodity and Derivative Exchange, chana for delivery in July gained Rs 17, or 0.68 per cent to Rs 2,526 per quintal, with an open interest of 14,080 lots.

Similarly, the chana for delivery in June edged up by Rs 11, or 0.61 per cent to Rs 2,291 per quintal, with a business turnover of 51,150 lots.

Chana for delivery in May rose by Rs 7, or 0.30 per cent to Rs 2,315 per quintal, with an open interest of 1,51,240 lots.

Traders attributed the rise in chana futures prices to enlarging of positions by speculators on pick-up in demand in spot markets.