Chilli futures climb 1.86 per cent on spot demand

NEW DELHI: In restricted activity, chilli teja prices shot up by 1.86 per cent to Rs 9,088 per quintal in futures market today as speculators created fresh positions, tracking strong demand in the spot market.

Tight stocks position in the physical market on fall in supplies from producing belts also supported the upside.

At the National Commodity and Derivative Exchange, chilli teja for delivery in far-month March jumped Rs 166, or 1.86 per cent to Rs 9,088 per quintal with an open interest of 95 lots.

Analysts said fresh positions built-up by speculators on the back of strong demand in the spot market, mainly attributed the sharp rise in chilli teja prices at futures trade.