Mumbai, April 10 (CommoditiesControl): Chilli prices in major markets showcased a mixed trend today as trading resumed following a two-session closure. While prices dipped in Guntur, it surged in Warangal and Khammam.
In Guntur, prices of Teja and Teja Deluxe varieties experienced a decline of Rs 500 per quintal. This downward movement can be attributed to subdued export and domestic demand, exerting pressure on prices in this market. The arrivals in Guntur were reported at 60,000 bags, marking a decrease of 50,000 bags compared to the previous session.
Conversely, Warangal and Khammam witnessed an uptick in prices. The exact reasons behind this increase were not immediately clear, but it contrasts the downward trend seen in Guntur. Arrivals in Warangal stood at 90,000 bags, while Khammam reported 30,000 bags.
The chilli market has been facing downward pressure since the beginning of the season, primarily due to higher carry-in stocks and supply surpassing initial expectations. However, despite this downward trajectory, prices have already seen a significant decline from their previous highs. This descent is expected to maintain prices within a certain range in the near future.
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