Chilli moves up by 2.38% in futures trade on strong demand

Chilli prices rose by 2.38% to Rs 7,324 per quintal in futures trade today as speculators enlarged positions on strong demand in the spot market against limited supplies.

At the National Commodity and Derivatives Exchange, chilli for delivery in December rose by Rs 170, or 2.38% to Rs 7,324 per quintal in an open interest of 6,390 lots.

Similarly, the spice for delivery in November advanced by Rs 138, or 2%, to Rs 7,042 per quintal in 670 lots.

Analysts said speculators enlarging their positions on strong demand in the spot market against restricted supplies from producing regions mainly pushed up chilli prices at futures trade.