Chilli futures down 1.57 pc on sluggish demand

NEW DELHI: Chilli prices fell by 1.57 per cent to Rs 6150 per quintal in futures trade today as speculators trimmed their positions, driven by sluggish demand in the spot market against adequate stocks.

Reports of higher output estimates further fuelled the downtrend in chilli.

At the National Commodity and Derivatives Exchange, chilli for delivery in March month fell by Rs 98, or 1.57 per cent to Rs 6,150 per quintal with an open interest of 4,730 lots.

Similarly, the spice for delivery in April contract traded lower by Rs 68, or 1.07 per cent to Rs 6,278 per quintal in 2,630 lots.

Market analysts said the fall in chilli prices at futures trade was mostly due to off-loading of positions by speculators on expectations of higher output and sluggish demand in spot markets.