Chilli futures up on good demand

NEW DELHI: Chilli prices rose by Rs 58 to Rs 6,566 per quintal in futures trade today as traders created fresh positions, driven by pick-up in spot market demand.

Trading sentiment improved further as a result of the restricted arrivals of the commodity in the market from the major producing belts and rising domestic as well as export demand.

At the National Commodity and Derivative Exchange, chilli for delivery in March rose by Rs 58, or 0.89 per cent, to Rs 6,566 per quintal, with an open interest of 6,530 lots.

Similarly, chilli for delivery in April gained Rs 32, or 0.48 per cent, to Rs 6,720 per quintal, with an open interest of 4,690 lots.

Market experts said besides fresh buying by traders, restricted arrivals from producing region mainly helped chilli prices to trade higher at futures market.