Chana or gram futures continued to rise on Wednesday, taking its cues from the spot market.
Chana has been ruling strong for the past few weeks on lower production and demand that has been on the higher side. A rise in demand ahead of the current festival season is also perking up prices.
Fears of a delay in arrivals of the next crop are aiding the trend.
Mr Sanjay Bansal, a trader in Indore, says that chana could touch Rs 5,500 a quintal in the near future.
On Wednesday morning, the August contract gained Rs 46 a quintal to quote at Rs 4,738; the September contract was up by Rs 56 at Rs 4,853; while the October futures were up by Rs 60 at Rs 4,937. The November contract gained Rs 97 and was trading at Rs 4,984.
In the spot market in Indore, prices were up at Rs 5,025.95 for a quintal.