New Delhi, April 01 (Commodities Control): Chilli prices in major markets such as Guntur, Warangal, and Khammam have witnessed a predominantly downward trend, despite notable increases in arrivals. This decline in prices has been exacerbated by heightened volatility in recent days, characterized by sharp fluctuations in arrivals. Notably, prices for varieties like Teja and Teja deluxe experienced a drop following a brief uptick. The combination of subdued export and domestic demand has further exacerbated the downward pressure on prices.
Arrivals in key markets reflect the significant influx of chillies, with Guntur and Khammam recording estimated arrivals of 125,000 and 30,000 bags, respectively. While Guntur observed a notable increase of 25,000 bags, Khammam experienced a slight decrease of 5,000 bags. Warangal reported arrivals of 80,000 bags, representing a substantial surge of 45,000 bags compared to the previous session.
The prevailing sentiment suggests that prices are under pressure as carry-in stocks rise and supply surpasses expectations. However, it's worth noting that prices have already witnessed a significant decline from their previous highs. Looking ahead, it's anticipated that prices will remain range-bound in the near term, with the onset of the summer season likely to further dampen demand.
In parallel, the Ministry of Commerce released export figures for January, indicating a slight decrease of 0.5% with exports totaling 35,796 MT. Despite this monthly decline, exports between April and January witnessed a 5.8% increase compared to the previous year, totaling 3.25 lakh tons. The decrease in monthly exports is primarily attributed to lower imports into China, where exports saw a substantial 29.2% year-on-year decline.
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