 "Workers spread red chilli to dry at the wholesale market in Nagpur, Maharashtra on Friday, 24 April 2015 Picture by PTI")
Chilli prices plunged by 3.31% to Rs 11,700 per quintal in futures trade today as speculators reduced positions amid subdued demand in the spot markets against adequate stocks position.
At the National Commodity and Derivative Exchange, chilli teja for delivery in November month dropped by Rs 400, or 3.31% to Rs 11,700 per quintal with an open interest of 20 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.
