Chilli gains 2.12% on spot demand

Lower arrivals aid growth

Chilli prices gained 2.12% to Rs 5,784 per quintal in futures trade today as speculators enlarged their positions on the back of firm demand in the spot market amid lower arrivals.

At the National Commodity and Derivatives Exchange, chilli for delivery in September shot up by Rs 120, or 2.12%, to Rs 5,784 per quintal with an open interest of 3,260 lots.

The August contract moved up by Rs 84, or 1.54%, to Rs 5,550 per quintal in business turnover of 8,790 lots.

Market analysts said besides the surge in demand in the spot markets, less arrivals from producing belts pushed up chilli prices.