Chilli teja futures hit lower circuit, plunges 4%

NEW DELHI: Chilli teja prices tumbled by 4 per cent to hit lower circuit at Rs 11,824 per quintal in futures trade today as participants trimmed positions amid subdued spot demand against adequate stocks position.

At the National Commodity and Derivative Exchange, chilli teja for delivery in October month dropped by Rs 492, or 4 per cent to Rs 11,824 per quintal with an open interest of 155 lots.

Similarly, the spice for delivery in September contracts traded lower by Rs 246, or 2.31 per cent to Rs 10,396 per quintal in 570 lots.

Analysts said offloading of positions by the traders owing to slackened demand in the spot market against sufficient stocks on higher supplies from producing region, dragged chilli teja prices down to hit lower circuit in futures trade.