Chilli teja surges 3.25% on strong demand

Traders create fresh positions as tight supplies from grwoing areas add to positive sentiment

Chilli teja prices surged 3.25 per cent to Rs 9,860 per quintal in futures trading today as speculators created fresh positions on strong demand in the spot market against tight supply from producing belts.

At the National Commodity and Derivative Exchange, chilli teja for delivery in June shot up by Rs 310, or 3.25 per cent, to Rs 9,860 per quintal with an open interest of 800 lots.

Similarly, the spice for delivery in July traded higher by Rs 192, or 1.99 per cent, to Rs 9,862 per quintal in five lots.

Market analysts said the rise in chilli teja prices at futures trade was mostly due to strong demand in the spot market against tight supplies from producing belts.