Chana futures trade higher on rising demand

Chana futures traded higher on NCDEX as speculators created fresh positions driven by rising demand in the spot market. Further, restricted arrivals in the physical market due to lower estimated output too supported the chana prices uptrend. Sowing prospects for the summer crop improved with the arrival of monsoon rains over the Kerala coast, limiting the gains in chana prices to some extent. The contract for June delivery was trading at Rs 2725.00, up by 0.18% or Rs 5.00 from its previous closing of Rs 2720.00. The open interest of the contract stood at 20130 lots. The contract for July delivery was trading at Rs 2808.00, up by 0.32% or Rs 9.00 from its previous closing of Rs 2799.00. The open interest of the contract stood at 161750 lots on NCDEX.