Chilli trades lower on offloading of positions
Chilli prices declined by Rs 48 to Rs 4,930 per quintal in futures market today as speculators offloaded their positions due to sluggish demand against adequate stocks position.
At the National Commodity and Derivative Exchange, chilli for delivery in July fell by Rs 48, or 0.96 per cent, to Rs 4,930 per quintal, with an open interest of 7,650 lots.
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The August contract lost Rs 44, or 0.87 per cent, to Rs 4,996 per quintal, with an open interest of 2,560 lots.
Market analysts said speculators offloaded their positions on the back of sluggish demand in the spot market, which mainly kept pressure on chilli prices at futures trade.