CHANA UP 0.9% SPOT DEMAND

Chana prices were up 0.85 per cent to Rs 4,483 per quintal in futures trading today as speculators took to creating fresh bets, taking positive cues from the spot market on demand pick-up.
Lower output estimates also supported the upside.
At the National Commodity and Derivatives Exchange, chana for delivery in June rose Rs 38, or 0.85 per cent, to Rs 4,483 per quintal with an open interest of 1,960 lots.
In a similar fashion, the commodity for delivery in July contracts traded higher by Rs 24, or 0.53 per cent, to Rs 4,512 per quintal in 1,44,870 lots.
Analysts said the rise in chana prices was mostly attributed to speculative position created by participants, driven by pick-up in demand in the spot market and estimates of lower output this year.

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