Chilli down by 0.7% on sluggish demand

Chilli prices drifted by 0.71% to Rs 6,708 per quintal in futures trading today as speculators reduced holdings on the back of sluggish demand in the spot market against sufficient supplies.

At the National Commodity and Derivatives Exchange, chilli for delivery in December declined by Rs 48, or 0.71% to Rs 6,708 per quintal with an open interest of 4485 lots.

Analysts said the fall in chilli futures was mostly attributed to offloading of positions by speculators triggered by sluggish demand at spot markets against sufficient supplies from producing regions.