Chilli prices heat up on demand from stockists

Our Bureau
Share  ·   Comment   ·   print   ·  
Supply concerns on the back of a deficient monsoon have also put chilli prices under pressure.
Supply concerns on the back of a deficient monsoon have also put chilli prices under pressure.

Chilli prices in the spot and futures market turned hot on Friday on demand from stockists.

With the monsoon being deficient, traders and stockists fear a supply shortage. Besides, production could also be lower this year. This is because some farmers in Andhra Pradesh could return to growing rice after having shifted to chilli last year.

Though arrivals are a little higher at 35,000 bags against sales of 28,000 bags, buying by stockists is boosting prices.

In Guntur, chilli was quoted at Rs 5,768.20 a quintal in the spot, up Rs 33 over the previous close.

On the National Commodities and Derivatives Exchange, chilli for August delivery opened higher at Rs 5,454 a quintal against Thursday's close of Rs 5,382. September contracts increased to Rs 5,656 against Rs 5,558.

Analysts see chilli prices hotting up further.

(This article was published on July 20, 2012)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.


This article is closed for comments.
Please Email the Editor
Get commodities

Cereals Prices

Cotton Prices

Drug and Narcotics Prices

Forest Products Prices

Fruits Prices

Jute Prices

Live Stock Prices

Oil Seeds Prices

Other Prices

Pulses Prices

Rice Prices

Spices Prices

Tobacco Prices

Vegetable Prices

Wheat Prices



Recent Article in Commodities

Hybrid turmeric up ₹800/quintal

With buyers showing interest in hybrid turmeric, its prices increased on Wednesday with all 150 bags on offer being picked up.»

Comments to: Copyright © 2014, The Hindu Business Line.