Chilli futures extend losses on sluggish demand

NEW DELHI: Extending losses for the third consecutive day, chilli futures prices today fell by 1.27 per cent to Rs 6,830 per quintal as speculators trimmed positions due to sluggish spot demand.

Increased arrivals from producing belts further fuelled the downtrend.

At the National Commodity and Derivatives Exchange, chilli for delivery in April continued to slide by Rs 88, or 1.27 per cent, to Rs 6,830 per quintal, with an open interest of 9,585 lots.

Similarly, the spice for delivery in March lost Rs 52, or 0.78 per cent, to Rs 6,620 per quintal in 795 lots.

Market analysts said persistent decline in chilli prices at futures trade was mostly due to subdued demand in the spot markets against supply pressure from producing belts.