Chilli futures slide 1.46 pc on weak demand

NEW DELHI: Chilli prices fell by 1.46 per cent to Rs 5,542 per quintal in futures trade on Thursday as speculators reduced their holdings amid weak demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, chilli for delivery in July fell by Rs 82, or 1.46 per cent, to Rs 5,542 per quintal, with an open interest of 12,495 lots.

Similarly, the spice for delivery in August traded lower by Rs 72 or 1.26, per cent to Rs 5,640 per quintal in 6,995 lots.

Market analysts said offloading of positions by speculators due to weak demand in the spot market against adequate stocks position mainly kept pressure on chilli prices at futures trade.