Chilli weakens on fresh arrivals

Chilli futures cascaded on arrival sentiments. Spot prices traded near Rs 9000 per quintal. Fresh arrivals were reported near 100000 bags compared with 95000 bags in the previous day. According to trader sources export demand is expected to increase from Bangladesh and china.
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-weakens-on-fresh-arrivals-12681.html)