Chana rises in futures trade, price up by 0.85%

NEW DELHI: Chana traded 0.85 per cent higher at Rs 3,071 per quintal in futures market today, largely in tandem with an upsurge in demand in the spot markets, as speculators created positions.

At the National Commodity and Derivatives Exchange, chana for delivery in May moved up by Rs 26, or 0.85 per cent, to Rs 3,071 per quintal with an open interest of 71,980 lots.

Similarly, the commodity for delivery in June traded higher by Rs 25, or 0.80 per cent, to Rs 3,135 per quintal in 91,430 lots.

Analysts said fresh positions built-up by speculators following strong demand in the spot market amid restricted arrivals from producing regions led to rise in chana prices at futures trade.