Hot Trade: Try Indian Red Chili
In today’s Bloomberg News
Indian housewives who are using red chilies to season their curries are giving up spicy profits.
Forget stocks. Go easy on real estate. Take a break from gold. Right now, one of the hottest trades in India is chilies. Anyone in possession of 5 tons of bright-red, Guntur Sannam medium-best chilies, each at least 5 centimeters (1.97 inches) long, is sitting on a tidy little sum.
The June futures contract on the commodity traded at 5,675 rupees per quintal ($1,265 a ton) yesterday on the National Commodity & Derivatives Exchange Ltd.
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