Chilli teja futures extend losses, plunge over 5%

Chilli teja prices tumbled over 5 per cent to Rs 11,198 per quintal in futures trade today as participants offloaded positions, triggered by fall in demand at the spot market against adequate stocks position.
At the National Commodity and Derivative Exchange, chilli teja for delivery in October plunged by Rs 626, or 5.29 per cent to Rs 11,198 per quintal with an open interest of 125 lots.
Similarly, the spice for delivery in September contracts plunged by Rs 358 or 3.46 per cent to Rs 9,994 per quintal in 550 lots.
Analysts said offloading of positions by the speculators, driven by a decline in demand at the spot market against ample stocks on higher supplies from producing regions, dragged down chilli teja prices in futures trade.