Chana prices up on firm spot demand

Chana for September delivery rose by Rs 33,or 0.71 per cent,to Rs 4,705 per quintal.

Written by Agencies | New Delhi | Published: September 5, 2012 1:39 pm

Chana prices rose by Rs 33 to Rs 4,705 per quintal in futures trade today,on hopes of pick-up in domestic buying from millers and retailers ahead of festive season amid thin supplies.

Fresh enquiries by millers at lower levels and a fall in supply from the producing regions of Rajasthan and Gujarat further supported the uptrend in futures trade.

At the National Commodity and Derivatives Exchange,chana for September delivery rose by Rs 33,or 0.71 per cent,to Rs 4,705 per quintal,with an open interest for 31,550 lots.

Similarly,chana for delivery in October rose by Rs 29,or 0.61 per cent,to Rs 4,789 per quintal,with an open interest for 90,660 lots.

Traders said speculators increasing their holdings on hopes of a rise in spot market demand mainly pushed up chana futures prices.

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