The Hindu Business Line : Chilli futures decline 6 pc

Prices of chilli on NCDEX continued to decline, losing 6 per cent on Monday. It closed at Rs 6,415 a quintal on weak advices from the Guntur spot market where it fell by Rs 150 to Rs 6,800.

"Chilli prices on the futures market have gained by Rs 2,000 in last three weeks. Traders preferred to book profits after the huge run up in prices. We expect prices to drop to the Rs 6,200 levels," said Mr Harish Galipalli, head of research, Karvy Commodities.

Maize slips

Reacting to the move of the Forward Markets Commission, maize on NCDEX fell 2.23 per cent to Rs 768 per quintal. FMC on Friday curtailed open interest positions on maize contracts to curb price volatility.

Wheat futures fell 2 per cent to Rs 1,054.40 per quintal on NCDEX on speculative selling. Rapeseed and cardamom on NCDEX fell 2.17 per cent and 1.53 per cent respectively to Rs 384 per quintal and Rs 387 per kg. Weak international advices pulled down soyabean soyal oil futures on NCDEX.

Potato gains

Mentha oil futures on MCX fell 2.5 per cent at Rs 657 per kg. However, potato futures on MCX gained Rs 4.70 at Rs 533 per quintal. The exchange recorded a total turnover of Rs 2,511.10 crore (single side). Kapas on MCX gained 1.1 per cent at Rs 402.60 per 20 kg, while kapaskhali gained 0.64 per cent at Rs 298.50 per 20 kg. Kapas April 2007 contract registered a turnover of Rs 20.05 crore with volumes at 9,996 tonnes.

More Stories on : Spices & Condiments | Commodity Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Turning popular

`Best weather' brewing for crops in TN, northern plains

US for mutual solution to shrimp dumping duty row

Spot rubber firms up

Sugar stocks shine

Rising trend in gold likely to continue

`Oilseeds import from Nepal, Lanka negligible'

Bio-diesel effect

Coffee exporters urged to make use of New Mangalore port

Vanilla growers seek support price

Cardamom to rise on US, Europe demand

Chilli futures decline 6 pc

Four commodity futures traders suspended