NCDEX chilli hits upper circuit on weak arrivals

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MUMBAI (Commodity Online):Chilli futures rose Thursday on lower level buying by the traders on the back of weak arrivals from the producing areas.

In NCDEX chilli December contract hits upper circuit in the afternoon trade at Rs.6682 per quintal against the previous close.

In the morning session the contract traded at a range of Rs.6498-6682 per quintal. Open interest

of the contract is 3170 lots and volume traded is 1670 lots for the time being.

However, overall trend is very subdued on higher production estimates. According to trade sources, sudden rise in spot prices might result in higher arrivals which are likely to weigh on prices later on.

Source: http://www.commodityonline.com/futures-trading/market-report/NCDEX-chilli-hits-upper-circuit-on-weak-arrivals-26398.html

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