Chana for December delivery on the National Commodity and Derivatives Exchange Ltd (NCDEX) gained one per cent to Rs 4,948 a quintal on Thursday on expectations of higher demand during the ensuing festival season.
December contract opened higher at Rs 4,948 against the previous close of Rs 4,890. The recent fall in prices also aided fresh purchases.
Chana prices have fallen by Rs 200 a quintal from a high of Rs 5,000 in the last one week. Chana crop prospects during the rabi season look bright due to revival of monsoon in the northern and central parts of India.
Spot prices of chana in Indore were quoted at Rs 4,794 a quintal.