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This is an archive article published on September 12, 2012

Chana futures prices up on spot demand

Chana prices rose by Rs 32 to Rs 4,555 per quintal in futures trade today.

Chana prices rose by Rs 32 to Rs 4,555 per quintal in futures trade today as speculators created fresh positions,tracking a firm spot market trend on pick up in demand.

However,higher sowing due to improved rains in key producing region limited the gains.

At the National Commodity and Derivatives Exchange,chana for delivery in October rose by Rs 32,or 0.71 per cent,to Rs 4,555 per quintal,with an open interest of 90,080 lots.

Similarly,the commodity for delivery in September moved up by Rs 23,or 0.51 per cent,to Rs 4,540 per quintal,with an open interest of 13,650 lots.

Traders said fresh positions created by speculators,driven by pick up in spot market demand mainly pushed up chana prices at futures trade.

 

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