Besides, adequate stocks position in the physical market also put pressure on chilli prices.
At the National Commodity and Derivative Exchange, chilli teja for delivery in March plunged by Rs 314, or 3.47 per cent, to Rs 8,724 per quintal with an open interest of 90 lots.
Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand in the spot market against adequate stocks position mainly pulled down chilli prices at futures trade.
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