Chilli futures rose on Friday on fresh buying by the traders due to limited stocks in the spot market.
Demand from overseas buyers also increasing for the upcoming festive seasons.
At NCDEX Chilli August contract is now trading at Rs.9158 per quintal, higher by 2.60% or Rs.232 against the previous close.
The contract traded at high of Rs. 9210 per quintal and a low of Rs.8860 in the early sessions. Open interest of the contract is 14490 lots so far.
Today’s arrivals are approximately around 15,000 to 20,000 bags and the NCDEX quality loose price is 7800 – 8400 Rs/Qtl.
Weak monsoon in A.P is having an impact on the Chilli sowing, till now sowing has been done in 0.14 Lakh Ha vis-à-vis 0.25 Lakh Ha previous year.
Chilli Exports for the 1st quarter of 2011-12 was at 40,500 MT as against 64,000 MT for the same period of 2010- 11.