International Spice Commodities Update – Chilli

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Chilli futures fell in NCDEX on higher stocks from the producing regions along with higher production estimates.

In NCDEX chilli May contract is trading at Rs.4868 ($90.36, €69.77 £56.16) per quintal, down by 1.09% today against the previous close. Open interest of the contract is 11270 lots and volume traded is 1425 lots for the time being.

Guntur has closed for a month-long summer break. The spot market will re-open only on 4th June 2012. According to sources, chilli stocks at cold storages in Guntur are at a record high of 10 million bags.

India’s chilli crop this year is expected to be in the range of 1.2 – 1.3 million tonnes, higher compared to last year.

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