Chilli futures weaken on sluggish demand

Chilli prices weakened by Rs 60 to Rs 8,110 per quintal in futures trade today as traders reduced their positions amid sluggish demand in the spot market.

At the National Commodity and Derivatives Exchange, chilli for delivery in September lost Rs 60, or 0.73%, to Rs 8,110 per quintal, with an open interest for 11,330 lots.

Likewise, chilli for delivery in October shed Rs 38, or 0.44%, to Rs 8,532 per quintal, with a trading volume of 2,830 lots.

Market analysts said traders reduced their holdings due to sluggish demand in the spot market, which led to the decline in chilli futures prices.