The Hindu Business Line : Chilli futures up on demand, short supply

Mumbai, April 3 Fear of imminent ban on essential commodity futures, especially in edible oil and potato, continued to mar trading in the national exchange on Thursday.

The turnover on MCX fell 20 per cent to Rs 3,684 crore against Rs 4,414 crore on Wednesday, while on NCDEX it was Rs 2,484 crore (Rs 2,851 crore).

Soya oil futures hit the upper circuit of 4 per cent at Rs 566 per 20 kg. Soyabean and RM seed followed soya oil to gain 2.88 per cent and 1.83 per cent at Rs 2,109 per quintal and Rs 534 per 20 kg.

Chana was up 0.96 per cent to Rs 2,742 per quintal following fresh buying supported by strong spot market. Chilli rose 0.83 per cent to Rs 4,337 per quintal due to strong demand and shortage of good quality stock to meet the demand.

Sugar futures continued their downward trend on increased selling pressure due availability of more stocks in the current month. The government had allotted 17 lakh tonnes of sugar as free sale quota in April compared to 16 lakh tonnes fixed for last month. Sugar futures fell 0.83 per cent to Rs 1,426 per quintal.

Mentha oil on MCX gained 1.52 per cent to close at Rs 447 per kg as a result of fresh buying at lower levels.

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