Chilli futures shed 1% on sluggish demand

NEW DELHI: Chilli prices fell 1 per cent to Rs 4,972 per quintal in futures trade today as speculators offloaded their positions amid a weak trend at spot market on sluggish demand.

At the National Commodity and Derivatives Exchange, chilli for delivery in June declined by Rs 50, or 1 per cent, to Rs 4,972 per quintal, with an open interest of 11,275 lots.

Similarly, the spice for delivery in July shed Rs 50, or 0.98 per cent, to Rs 5,074 per quintal in 2,850 lots.

Market analysts said speculators offloading their positions due to a weak trend in the physical markets on slackened demand kept pressure on chilli futures.