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Chilli succumbs to profit-booking in futures trade

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Press Trust of India New Delhi

Amid profit-booking at prevailing higher levels by speculators, chilli prices fell by Rs 78 to Rs 6,710 per quintal today.

However, tight supplies and projected lower crop, kept losses limited.

At the National Commodity and Derivatives Exchange counter, chilli prices, which had been rising in the past few sessions, attracted profit-booking at higher levels and February-month contract fell by Rs 78, or 1.78 per cent to Rs 6,710 per quintal, with an open interest of 2,360 lots.

Likewise, the spice for delivery in March contract fell by Rs 60, or 0.89 per cent to Rs 6,676 per quintal, with an open interest of 1,310 lots.

Market analysts said emergence of profit-booking by speculators after recent gains, led to a fall in chilli prices at futures trade, but lower projected crop and higher exports restricted losses.

Meanwhile, during the April-October 2010 period, a total of 1,41,000 tonnes of chilli as against 1,11,750 tonnes has been exported.

 

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First Published: Dec 20 2010 | 11:50 AM IST

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