Chilli sheds 1% on sluggish demand

chilli prices fell 1% 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, the June contract declined by Rs 50, or 1%, to Rs 4,972 per quintal, with an open interest of 11,275 lots.

The July contract shed Rs 50, or 0.98%, 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.