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Chilli prices plunged by 2.83% to Rs 5,288 per quintal in futures market today as speculators offloaded their positions, driven by subdued demand in the spot market against adequate supplies.
At the National Commodity and Derivatives Exchange, chilli for delivery in September plunged by Rs 154, or 2.83% to Rs 5,288 per quintal with an open interest of 3,450 lots.
Similarly, chilli for delivery in October declined by Rs 98, or 1.74% to Rs 5,530 per quintal in 5,170 lots.
Market analysts said offloading of positions by speculators on subdued demand in the spot market against adequate supplies from producing regions mainly pulled down chilli prices at futures trade.
