NCDEX Chilli closes lower on high selling pressure

Chilli prices ended lower by 0.64 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity of the commodity by the investors as a higher output is estimated. At the NCDEX, chilli futures for July 2013 contract closed at Rs. 5,572 per quintal, down by 0.64 per cent, after opening at Rs. 5,608 against the previous closing price of Rs. 5,608. It touched the intra-day low of Rs. 5,496. Global production of chilli stands at about 20.00 lakh MT to 25.00 lakh MT per annum. India is the largest producer and contributes about 10.00 lakh MT to 12 lakh MT annually followed by China, Nigeria, Peru, Bangladesh, Hungary.

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