August 18, 2017

MTECHTIPS

MTECHTIPS:Chilli futures may trade higher

Chilli futures may trade higher due to expectation of improvement in domestic demand and export orders from Bangladesh and Sri Lanka. Increase in export enquiries from Bangladesh and Sri Lanka and rise in domestic demand from stockists is expected to push up chilli prices in the near term. On Tuesday, chilli arrivals in Guntur were around 35000 bags (1bag=45kg). The spot price for 334-variety chilli traded flat at Rs.5800 per 100kg. However, harvesting of the new crop which is expected to begin by the end of December month may limit sharp rise in prices, owing to seasonal demand. Carry-forward stocks were reported as 20 lakh bags higher than usual.

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