International Spice Commodities Update – Chilli

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Chilli prices declined by 3.66% to Rs 5,692 ($107.96, €84.50, £69.83) per quintal in futures trade today as speculators offloaded their positions amid a weak trend in the spot market due to subdued demand.

At the National Commodity and Derivatives Exchange, April chilli fell by Rs 216 ($4.10, €3.21, £2.65), or 3.66%, to Rs 5,692 ($107.96, €84.50, £69.83) per quintal, with an open interest for 605 lots.

The February contract lost Rs 210 ($3.98, €3.12, £2.58), or 3.29%, to Rs 6,170 ($117.02, €91.60, £75.70) per quintal, with an open interest for 2,845 lots.

Market analysts said offloading of positions by speculators in tandem with subdued demand in the spot market mainly pulled down chilli prices in futures trade.

One thought on “International Spice Commodities Update – Chilli

  1. Chilli farmers are witnessing troubled times since the prices have declined due to the decline in exports this season and also a series of fire accidents in the cold storage units during the early part of last year that lead to losses.

    The farmers have not got any compensation. Guntur district has got the biggest chilli market yard in the state and India. The average prices of the premium quality chilli slipped to nearly Rs 5,000-5,500 per quintal and of the common variety to Rs 3,000 a quintal last month. Although there has been slight improvement since then, the prices are quite far from being satisfactory.

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