Supported by a strong demand at the spot market and estimated lower crop, chilli prices spurted by 3.54 per cent to Rs 7,840 per quintal in futures trading today.
At the National Commodity and Derivatives Exchange counter, Chilli for delivery in April spurted by Rs 268, or 3.54 per cent, to Rs 7,840 per quintal, with an open interest of 795 lots.
The spice for delivery in March gained Rs 174, or 2.30 per cent, at Rs 7,783 per quintal, with an open interest of 2,695 lots, while delivery in February rose by Rs 124, or 1.67 per cent, to Rs 7,550 per quintal, with a business turnover of 4,885 lots.
Market analysts attributed a significant rise in chilli futures prices to strong spot demand, amid lower arrivals and projected lower crop.
Good export demand also supported the surge in chilli futures prices, they added.
Meanwhile, during April-October period of 2010, a total quantity of 1,41,000 tonnes of chilli as against 1,11,750 tonnes has been exported.
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