Muted demand drags down chilli futures by 1.98 pc

In restricted activity, chilli teja prices drifted lower by 1.98 per cent to Rs 8,818 per quintal in futures market today as speculators lightened their positions amid tepid spot demand against adequate stocks.
At the National Commodity and Derivatives Exchange, chilli teja for delivery in far-month March fell by Rs 178, or 1.98 per cent to Rs 8,818 per quintal with an open interest of 10 lots.
Analysts said trimming of positions by participants owing to muted demand in the spot market against adequate stocks, mainly pulled down chilli teja prices at futures trade.