Chilli futures down 3.79% on muted demand

Chilli prices plunged 3.79 per cent to Rs 11,738 per quintal in futures trade today as speculators reduced positions, driven by subdued demand in the spot markets against adequate stocks position.

At the National Commodity and Derivative Exchange, chilli teja for delivery in November dropped by Rs 462, or 3.79 per cent to Rs 11,738 per quintal with an open interest of 12,270 lots.

Analysts said offloading of positions by speculators due to fall in demand in the spot markets against adequate stocks position mainly pulled down chilli teja prices at futures trade.