Mumbai, May 20 (Commodities Control): Chilli prices in Warangal's major markets exhibited a mixed trend today. The price of the Teja variety fell, while the 341 variety saw a recovery, and the Wonder Hot variety remained unchanged. The summer season has led to lower user demand, and with warehouses nearly full, stockists are reluctant to buy despite prices being at multi-year lows.
Today’s market arrivals stood at 10,000 bags, consistent with the previous session. In specific, the Teja variety experienced a significant drop, with prices falling by Rs 1,300 per quintal. Conversely, the 341 variety saw an increase of Rs 1,000 per quintal. The Wonder Hot variety's prices remained steady.
The low demand in spot markets is a key factor contributing to the decline in prices. Despite the reduced prices, stockists' hesitation to purchase due to full warehouses is maintaining a downward pressure on the market.
Summary of Current Prices:
- Teja variety: Prices fell by Rs 1,300 per quintal.
- 341 variety: Prices increased by Rs 1,000 per quintal.
- Wonder Hot variety: Prices remained unchanged.
Market Context:
- Arrivals: 10,000 bags, unchanged from the previous session.
- Demand: Low due to the summer season.
- Stockist Activity: Limited, as warehouses are near capacity.
Overall, the chilli market in Warangal is expected to remain under pressure until demand picks up, possibly when seasonal factors change or when stockists begin to deplete their current inventories.
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