Chana prices surge by 0.36 pct in futures trade on strong spot demand

Chana to be delivered in January next year, too, was trading higher by Rs 20, or 0.43 per cent, at Rs 4,678 per quintal in 51,560 lots.

Chana prices shot up by 0.36 per cent to Rs 4,676 per quintal in futures trade Tuesday as speculators built up fresh positions, supported by uptick in demand from dal mills at spot markets.

At the National Commodity and Derivatives Exchange, chana for delivery in December was trading higher by Rs 17, or 0.36 per cent at Rs 4,676 per quintal with an open interest of 6,080 lots.

Chana to be delivered in January next year, too, was trading higher by Rs 20, or 0.43 per cent, at Rs 4,678 per quintal in 51,560 lots.

The rise in chana prices at futures trade was mostly attributed to speculative positions created by participants, triggered by a firm trend at the spot markets on the back of strong demand from dal mills, analysts said.