Chilli teja futures hit upper limit on fall in supply

Chilli teja prices surged to hit upper circuits of 4 per cent at Rs 10,360 per quintal in futures trade today as participants indulged in creating fresh positions, supported by tight supplies from producing belts at spot market against pickup in demand.
At the National Commodity and Derivative Exchange, chilli teja for delivery in October spurted by Rs 398, or 4 per cent to Rs 10,360 per quintal with an open interest of 150 lots.
Similarly, the spice for delivery in September contracts traded higher by Rs 158, or 1.65 per cent to Rs 9,750 per quintal in 770 lots.

Analysts said besides tight supplies from producing regions, pickup in demand at the spot markets led to sharp rise in chilli teja prices in futures trade.