Chilli futures down 2.49% on weak demand

NEW DELHI: Chilli prices moved down by 2.49 per cent to Rs 6,200 per quintal in futures market today as speculators reduced their holdings due to weak demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, chilli for delivery in April moved down by Rs 158, or 2.49 per cent to Rs 6,200 per quintal with an open interest of 2,010 lots.

Likewise, the spice for delivery in May traded lower by Rs 128, or 1.89 per cent to Rs 6,632 per quintal in 20,230 lots.

Market analysts said offloading of positions by speculators, driven by a weak demand in the spot markets against adequate stocks position mainly pulled down chilli prices at futures trade.