Chilli futures decline 1.28% on higher output estimate

NEW DELHI: Chilli prices fell 1.28 per cent, to Rs 5,090 per quintal in futures trade today after speculators indulged in reducing their exposures amid higher output estimated in the current year.

At the National Commodity and Derivatives Exchange, chilli for delivery in December fell sharply by Rs 66, or 1.28 per cent, to Rs 5,090 per quintal, with an open interest of 2,015 lots.

Similarly, the spice for delivery in March shed Rs 32, or 0.50 per cent, to Rs 6,312 per quintal in 3,600 lots.

Marketmen said the fall in chilli prices at futures trade was mostly due to off-loading of positions by speculators on expectations of higher output in the current year.