Chana price rises by 0.38 per cent as demand picks up

NEW DELHI: Chana prices rose by 0.38 per cent to Rs 3,175 per quintal in futures trade today as traders enlarged their holdings on account of good demand in the spot market.

Further, restricted supplies in spot markets amid lower output estimates, influenced chana prices.

At the National Commodity and Derivatives Exchange, chana for December delivery rose Rs 12, or 0.38 per cent, to Rs 3,175 per quintal, with an open interest of 80,280 lots.

Similarly, chana for delivery in January 2015 went up by Rs 9, or 0.28 per cent, to Rs 3,197 per quintal, with an open interest of 40,420 lots.

Traders said speculators increasing their holdings on rising demand in spot markets due to ongoing marriage season and tight arrivals, mainly pushed up chana prices.