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Chilli prices fell sharply by Rs 218 to Rs 5,326 per quintal in futures trade today on heavy selling by speculators driven by reports of higher output estimates.
Subdued demand from retailers and stockists in the spot markets also influenced the market.
At the National Commodity and Derivatives Exchange, chilli for delivery in October moved down by Rs 218, or 3.93%, to Rs 5,326 per quintal with an open interest of 4,275 lots.
Likewise, chilli for delivery in November lost Rs 194, or 3.26%, to Rs 5,750 per quintal with open interest of 1,770 lots.
Marketmen said offloading of positions by speculators on falling demand at spot market at prevailing higher levels mainly influenced chilli futures.
They said reports of higher output this season also dampened the trading sentiment.
