Chana rises on lower output concerns

NEW DELHI: Chana prices rose by Rs 74 to Rs 4,305 per quintal in futures trade today as speculators enlarged their positions following brisk demand in spot market amid reports of a lower output this season.

At the National Commodity Derivatives Exchange, chana for the July contract rose by Rs 74, or 1.75 per cent, to Rs 4,305 per quintal with an open interest of 52,760 lots.

Similarly, the commodity for delivery in the June contract gained Rs 70, or 1.69 per cent, to Rs 4,210 per quintal with open interest of 72,100 lots.

Analysts attributed rise in chana prices at futures trade to reports of a likely fall in output this year.