Chilli settles higher on weak arrivals

Chilli prices surged on improve in demand as well as decline in arrivals. Spot prices traded near Rs 8300 range and fresh arrivals were noticed around 60000 bags compared with 90000 bags in the previous day.
Rains in December end had badly affected the quality of crop output. As per market sources, production in 2010-11 were expected near one million tons which is 16 percent lesser than last year production.
Attention of farmers to highly rewarding crop like turmeric and cotton and erratic weather condition during the sowing period had considerably reduced the area under cultivation.
Courtesy: Geojit Comtrade Limited
(Source: http://www.commodityonline.com/futures-trading/tradingtips/Chilli-settles-higher-on-weak-arrivals-12446.html)