Chilli falls 1.54% on sluggish demand

October contract falls by similar margin

Chilli prices declined by Rs 80 to Rs 5,098 per quintal in futures trade today as speculators reduced positions, tracking a weak trend at spot market on sluggish demand.

At the National Commodity and Derivatives Exchange, chilli for delivery in September declined by Rs 80, or 1.54%, to Rs 509 per quintal, with an open interest of 10,700 lots.

The October contract lost Rs 86, or 1.50%, to Rs 5,662 per quintal in 4,985 lots.

Market experts said speculators reduced positions on the back of sluggish demand, which led to a decline in chilli futures.