Chilli prices plummeted by Rs 158 to Rs 8,540 per quintal in futures trade today following reduced offtake by traders, guided by a weak spot market sentiment.
Marketmen said large stocks position along with the fall in spot market demand, mainly led to the downfall in chilli futures prices.
India is the largest producer of chilli in the world and contributes almost 50% to the total production.
At the National Commodity and Derivatives Exchange, October chilli lost Rs 158, or 1.82% to Rs 8,540 per quintal, with an open interest of 7,000 lots.
The December contract also dipped by Rs 66, or 0.77% to Rs 8,524 per quintal, with an open interest of 2,490 lots.
