Chilli Prices Hit a Daily Upper Limit
NEW DELHI: Chilli prices hit a daily upper limit of 4 per cent at Rs 5,104 per quintal in futures trade today on strong spot and export demand amid low stocks.
Sentiment improved further as a result of the restricted arrivals of the commodity in the market from the major producing belts.
At the National Commodity and Derivatives Exchange, chilli for delivery in July spurted by Rs 198, or 4.04 per cent, to Rs 5,104 per quintal, with an open interest of 8,015 lots.
Likewise, the spice for delivery in June rose by Rs 188, or 3.92 per cent, to Rs 4,982 per quintal, with an open interest of 3,170 lots.
Market analysts said fresh buying by speculators on the back of a rise in demand in the spot market mainly pushed up chilli prices at futures trade.
News item from India Times.
Tuesday 12th of June 2012