Chilli futures drop 3.08 pc on sluggish demand

Chilli prices plunged over 3 per cent to Rs 10,080 per quintal in futures trade today as speculators trimmed positions, driven by sluggish demand in the spot market against adequate stocks position.
At the National Commodity and Derivative Exchange, chilli teja for delivery in October tumbled by Rs 320, or 3.08 per cent to Rs 10,080 per quintal with an open interest of 25 lots.
Similarly, the spice for delivery in September traded lower by Rs 50, or 0.50 per cent to Rs 10,000 per quintal in 15 lots.
Analysts said offloading of positions by speculators on the back of sluggish demand in the spot market mainly pulled down chilli prices at futures trade.