Chilli prices declined by Rs 288 to Rs 7,920 per quintal in futures trade today as speculators offloaded their positions, driven by a sluggish demand at existing higher levels in the spot market.
At the National Commodity and Derivatives Exchange, September chilli lost Rs 288, or 3.51% to Rs 7920 per quintal with an open interest of 8,565 lots.
The October contract lost Rs 198 or 2.26% to Rs 8,570 per quintal in a business turnover of 6,775 lots.
Market analysts said speculators reduced their positions driven by a sluggish spot market demand at prevailing higher levels, which led to the fall in chilli prices in the futures trade.