Chilli Futures Increase As Traders Resort To Short Covering

Mumbai: Chilli futures on NCDEX rose on account of short covering by traders.

The demand from the spot market was low and so were the arrivals, said a commodity analyst at Angel Commodities. The benchmark prices at Guntur market were quoted a tad higher at Rs 4,455.95 per quintal up by Rs 5.65.

Chilli on NCDEX November contract closed at Rs 4,415 per quintal up 0.91 per cent from the previous close.

Jeera dips

Jeera prices continued its downtrend on the futures counter. Traders booked profits to close their long positions. Spot price at Unjha market remained unchanged at Rs 11,266.65 per quintal.

Jeera on NCDEX November contract closed at Rs 10,330 per quintal up 1.09 per cent.

Turmeric range-bound

Turmeric futures traded in a range on slow activity in the commodity in the spot exchange.

Lower demand in the spot market along with huge carry over stocks of the previous year added to the selling pressure on the prices.

Spot price at Nizamadad were quoted at Rs 2,063.65 per quintal lower by Rs 8.20.

Turmeric November contract on NCDEX closed at Rs 1,988 per quintal up 0.10 per cent.

Soyabean up

Soya arrivals in the spot market remained steady, while the demand from millers and crushers remained firm, said a trader.

Spot price of soyabean increased marginally at major trading centres. Prices were quoted higher at Rs 1,717 per quintal up Rs 21, while soya oil was quoted was at Rs 520.65 per kg.

More gain for chana

Chana prices continued to gain in both the futures and spot market on fresh buying and lower arrivals, said analyst.

Chana gained by Rs 23 in Delhi and was quoted at Rs 2,377 per quintal while it gained by a mere Rs 5 in Bikaner and quoted at Rs 2,289 a quintal. Prices in Indore remained unchanged, and closed at Rs 2,327 a quintal.

Chana November contract on NCDEX closed at Rs 2,391 per quintal.