New Delhi (PTI): Shortage of good quality chilli on Tuesday kept investors away from futures market and exerted pressure on prices.

"Despite strong buying interest, buyers stayed away from the market due to non-availability of best quality stock," Karvy Comtrade analyst Amad Rajalaxmi told PTI.

Chilli arrivals in the market is pretty good after Guntur market in Andhra Pradesh--Asia's biggest chilli market yard--reopened yesterday, she said, adding that a total of 60,000 bags arrived today.

"Currently, poor quality chilli, which has been harvested during third picking, is hitting the market. It is selling in the range of Rs 3,200-3,500 per quintal depending on the quality in the spot market," Guntur-based trader S Shivaramlu said.

Traders are ready to buy best quality chilli at Rs 4,300-5000 per quintal, he added.

Nizamabad-based trader Suryanarayana Saboo said, "The arrival of premium quality chilli, which fetches good export price has slowed down and as a result prices are under immense pressure".

Rajalaxmi said, "Arrivals are expected to be strong during this week as farmers will offload the left-over stock to take up fresh crop in new season that starts from July onwards".

Meanwhile, chilli at NCDEX counter opened on a bearish note and rose marginally during afternoon trade. At 1630 hrs, June contract rose by 0.20 per cent to Rs 5,000 per quintal, August contract increased by 0.79 per cent to Rs 5,380 per quintal while October contract went up by 1.06 per cent to Rs 5,700 per quintal.

Spot prices at Guntur market were ruling at Rs 4,199.20 per quintal.