Chana rises due to spot demand

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Chana rises due to spot demand
On June 2, 2011, the prices of chana for delivery in July rose by Rs 8, or 0.31% to Rs 2,620 per quintal, with an open interest of 179,110 lots at the National Commodity and Derivatives Exchange (NCDEX) since fresh holdings were created by the traders tracking the pick up in the demand against the restricted supply.

The chana for the June contract also gained Rs 7, or 0.28% to Rs 2,543 per quintal in 124,390 lots at the NCDEX.

Moreover, the rise in the demand in the spot market against decline in the supply from the producing belts also supported the prices.

Read more about: chana, ncdex, commodities
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