Chilli futures recovers; prices up 1.19 pc
Chilli futures, which fell sharply in the last few sessions on account of rainfall, today recovered due to a rise in domestic and global demand.
By PTI |
NEW DELHI: Chilli futures, which fell sharply in the last few sessions on account of rainfall, today recovered due to a rise in domestic and global demand.
At 1230 hrs on NCDEX counter, the most-active August contract jumped by 1.19 per cent at Rs 5,260 per quintal, October contract by 1.96 per cent at Rs 5,677 per quintal and December contract by 1.99 per cent at Rs 5,847 per quintal.
Prices are up as demand from manufacturers of value-added products like oleoresins picked up in the market, an analyst with Karvy Comtrade said.
Besides, there is a strong demand from Malaysia and Sri Lanka for the best quality stock, she said. Spot prices recovered marginally to Rs 5,055.20 per quintal at Guntur in Andhra Pradesh, Asia's biggest chilli market. Traders said that the firm spot market sentiment is supporting the prices to recover in futures market.
At 1230 hrs on NCDEX counter, the most-active August contract jumped by 1.19 per cent at Rs 5,260 per quintal, October contract by 1.96 per cent at Rs 5,677 per quintal and December contract by 1.99 per cent at Rs 5,847 per quintal.
Prices are up as demand from manufacturers of value-added products like oleoresins picked up in the market, an analyst with Karvy Comtrade said.
Besides, there is a strong demand from Malaysia and Sri Lanka for the best quality stock, she said. Spot prices recovered marginally to Rs 5,055.20 per quintal at Guntur in Andhra Pradesh, Asia's biggest chilli market. Traders said that the firm spot market sentiment is supporting the prices to recover in futures market.
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