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Chana (gram) prices increased in the spot and futures market on Wednesday. In the spot market, it almost hit Rs 5,000 a quintal.
Chana, one of the commodities that has risen continuously in the last few weeks, was quoted at Rs 4,990 a quintal in the Indore market. In the futures market, chana for delivery in August was up almost half a per cent at Rs 4,725 a quintal on the National Commodities and Derivatives Exchange.
Lower production this year and a shortage of stocks have driven up chana prices this year.
Prices have also gained because imports have become costlier in view of the decline in the rupee value. The rupee has dropped by over 10 per cent against the dollar since April and on Wednesday it dropped by 10 paise to 55.21 to the dollar.
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