Chilli down 2% on weak demand, large stocks

Prices weaken on lower exports, rising inventory amid reports of higher output

Chilli prices fell by Rs 132 to Rs 5,900 per quintal in futures trade today, following on speculators buying driven by falling spot market demand amid reports of higher output.     

Marketmen said chilli prices weakened due to lower export, good stocks position and sluggish domestic demand amid reports of higher output.     

At the National Commodity and Derivatives Exchange, chilli prices for June slumped by Rs 132, or 2.19 per cent, to Rs 5,900 per quintal, with an open interest of 19,980 lots.     

The July contract also shed Rs 132, or 2.14 per cent, at Rs 6,030 per quintal, having an open interest of 3,150 lots.