Chilli weakens 1.55% on profit-booking

Sluggish demand influences prices

Chilli prices weakened by 1.55% to Rs 4,826 per quintal in futures trade today as speculators booked profits at prevailing higher levels, driven by a weak trend at the spot market on sluggish demand.

At the National Commodity and Derivatives Exchange, chilli for delivery in September declined by Rs 76, or 1.55%, to Rs 4,826 per quintal, with an open interest of 330 lots.

October chilli shed Rs 18, or 0.33%, to Rs 5,406 per quintal, with an open interest of 8,850 lots.

Marketmen attributed the fall in chilli prices at futures market to profit-booking by speculators at prevailing higher levels, driven by a weak trend at the spot market on subdued demand.