| Date: |
03-08-2011 |
| Subject: |
NCDEX Chilli Tumbles On Weak Exports |
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MUMBAI (Commodity Online): The NCDEX Red Chilli pared the last trading session's gains as traders liquidated their long positions triggered by weak export demand.
Chilli August delivery rose to Rs 8860 level as on Monday from the low of Rs 8380 per 100 kg as on 28th July 2011. Prices gained on some bargain buying on the grounds of weak sowing in major producing belts. The NCDEX August Chilli ended the last session up by 2.30% at Rs 8804 per 100 kg.
In today's trading session, Chilli August contract dipped to the low of Rs 8634, down 1.93% or Rs 170 over the last close. The contract is currently trading lower at Rs 8726 per 100 kg and the open interest dipped by 6.23% to 14,210 tonnes, indicating profit taking. Volume traded as of now stood at 3,020 tonnes.
As per the latest release from the Spices Board of India, Red Chilli exports decreased 37% to 40,500 tonnes while revenue declined 6% to Rs 36,575 lakh during April- June 2011.
Source : commodityonline.com
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