Chilli futures rise as demand picks up

Chilli prices rose by Rs 28 to Rs 4,908 per quintal in futures market today on pick up in demand in the spot market amid lower arrivals from producing belts.

At the National Commodity and Derivatives Exchange,chilli for delivery in September rose by Rs 28,or 0.57 per cent,to Rs 4,908 per quintal,with an open interest of 175 lots.

Likewise,the spice for delivery in October traded higher by Rs 20,or 0.37 per cent,to Rs 5,474 per quintal,with an open interest of 9,210 lots.

Marketmen said pick up in demand in the spot market amid restricted arrivals from producing belts mainly helped chilli prices to trade higher at futures trade.