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Chennai, July 24
Chilli futures turned hot on the National Commodities and Derivatives Exchange with almost all contracts rising over two per cent by noon on Tuesday.
Data on April exports showing shipments more than doubling to 30,000 tonnes (12,963 tonnes) helped boost the sentiment in the market. Fears of lower crop this year have already triggered an uptrend in the market.
In Guntur spot market, chilli was quoted at Rs 5847.60 a quintal.
On the NCDEX, the August contracts were up by 2.38 per cent at Rs 5,596 a quintal, while October contracts gained 1.23 per cent to top Rs 6,000 a quintal. They were quoted at Rs 6,084 a quintal. September contracts ruled at Rs 5,830, up 2.93 per cent over Monday’s close.
Arrivals in Guntur market are higher but a matching demand is keeping the prices at higher level.
Fears over crop production have increased since a large number of farmers who had switched over to chilli from paddy last year are expected to revert to the foodgrain.
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