NCDEX chilli gains 1.49% on short covering

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MUMBAI (Commodity Online):Chilli futures gained Wednesday on short covering by the traders due to rising spot demand though fresh arrivals and weak exports limited the uptrend.

In NCDEX chilli March contract is trading at Rs.5310 per quintal, down by 1.49 per cent on 15:30 IST against the previous close.

In the morning session the contract traded at a range of Rs.5270-5384 per quintal. Open interest of the contract is 370 lots and volume traded is 1160 lots for the time being.

According to trade sources, export demand from neighboring countries is also remaining poor which might have negative impact on prices.

As per data released by Spices board, during Apr-Dec, 2011 export of chilli was around 1,53,500 tones down by 19 % Y/Y.

Source: http://www.commodityonline.com/futures-trading/market-report/NCDEX-chilli-gains-1.49-on-short-covering-27243.html

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