NCDEX chilli plunges 3.98% on weak domestic demand

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MUMBAI (Commodity Online): Red Chilli futures declined Tuesday on extended selling by the traders due to sluggish spot demand amid higher production estimates in the next year.

In NCDEX chilli December contract is trading at Rs.6690 per quintal, a decline of 3.98% against the previous close.

In the early sessions the contract traded at a range of Rs.7028-6690 per quintal. Open interest of the contract is 3665 lots and volume traded is 2645 lots.

Overall trend is still weak due to expectations of higher production in coming season which weighed prices. Stocks available at spot market are around 8-10 lakh bags. Andhra Rabi chilli area is reported 0.37 lakh ha as on 7th December v/s 0.39 lakh ha yr ago.

Source: http://www.commodityonline.com/futures-trading/market-report/NCDEX-chilli-plunges-3.98-on-weak-domestic-demand-26362.html

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