NCDEX chilli settles higher on firm spot demand

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MUMBAI (Commodity Online): Chilli futures gained Monday on extended buying by the traders on the back of firm demand in the spot markets though higher arrivals from the fresh crop limited the uptrend.

In NCDEX chilli March contract is trading at Rs.5360 per quintal, up by 0.60% on 16:45 IST against the previous close.

In the morning session the contract traded at a range of Rs.5306-5400 per quintal. Open interest of the contract is 3980 lots and volume traded is 1275 lots for the time being.

As per market source, good demand from stockists for the better quality new crop is supporting chilli prices.

According to latest data available, chilli acreage in Andhra Pradesh, the largest producer of the spice in the country, was at 51923 hectares, up by 19.1 percent on year.

Source: http://www.commodityonline.com/futures-trading/market-report/NCDEX-chilli-settles-higher-on-firm-spot-demand-27295.html

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