NCDEX chilli succumbs to profit taking
Friday, 4 December 2009
MUMBAI, Dec 3 (Commodity Online): Chiili future extended its previous losses Thursday as the speculators indulged in profit taking at higher levels, tracking weak spot market sentiments.
NCDEX challi December moved in the ranges of Rs 5780-5726/100 kg and now quoted at Rs 5734, down 1.12 per cent over last close.
The open interest in the counter dipped 0.41 per cent to 3,595 tonnes from 3,610 tonnes, indicating profit taking. Red Chilli slumped Rs 46.80 or 0.80 per cent to close to Rs 5881.51/100 kg in the Guntur market Thursday.
As expected, chilli extended its losses on Wednesday and closed down 1.21% at 5785 rupees per quintal. This year Chilli exports have been lower till now on account of good crop in China and Pakistan. Bangladesh has been the only major buyer for Indian Chilli.
Until now the exports have been 1,04,750 tonnes against 1,23,150 tonnes exported during the same period in 2008.
NCDEX challi December moved in the ranges of Rs 5780-5726/100 kg and now quoted at Rs 5734, down 1.12 per cent over last close.
The open interest in the counter dipped 0.41 per cent to 3,595 tonnes from 3,610 tonnes, indicating profit taking. Red Chilli slumped Rs 46.80 or 0.80 per cent to close to Rs 5881.51/100 kg in the Guntur market Thursday.
As expected, chilli extended its losses on Wednesday and closed down 1.21% at 5785 rupees per quintal. This year Chilli exports have been lower till now on account of good crop in China and Pakistan. Bangladesh has been the only major buyer for Indian Chilli.
Until now the exports have been 1,04,750 tonnes against 1,23,150 tonnes exported during the same period in 2008.