Chilli rises over 2% on firm spot demand

Thin supplies from producing belts helps price rise

Supported by a firming trend in the spot market on strong demand, chilli futures prices today surged by Rs 118 to Rs 5,610 per quintal as speculators enlarged their positions.

Restricted supplies from producing belts and overseas inquiries supported the uptrend.

At the National Commodity and Derivatives Exchange, chilli for delivery in August surged by Rs 118, or 2.15%, to Rs 4,920 per quintal, with an open interest of 4,920 lots.

Similarly, the spice for delivery in September moved up by Rs 118, or 2.06%, to Rs 5,836 per quintal in 8,410 lots.

Marketman said strong demand in the spot market against thin supplies from producing belts influenced the chilli futures prices.