Mumbai, July 01 (CommoditiesControl): The latest export data released by the Ministry of Commerce shows a significant drop in chilli exports for April, down 23.5% to 36,583 MT. This decline has put pressure on prices as export demand remains weak.Specifically, exports to China, Bangladesh, and Sri Lanka have fallen by 15%, 31%, and 68%, respectively.
Meanwhile, export levels are expected to stay low due to ongoing investigations from Bangladesh and China. Reports indicate that China's chilli crop is doing well, reducing its demand for Indian chillies while also fulfilling the needs of Bangladesh.
Despite these export challenges, chilli prices in major markets have remained relatively stable. Adequate rainfall in chilli-growing regions has kept buyers inactive, with no significant decrease in acreage expected. Demand remains low as exports have yet to pick up. Farmers are preparing nurseries and may sow early this season, encouraged by higher prices at the start of the season. However, seed sales suggest that acreage might remain 10% lower than usual.
In terms of arrivals, a total of 96,000 bags were received, primarily from cold storage facilities. Guntur reported an influx of 80,000 bags, an increase of 25,000 from the previous session. Warangal and Khammam saw arrivals of 8,000 bags, a 3,000 increase from the previous session. Non-A/C bag arrivals were estimated between 18,000 and 20,000 bags per market.
Prices are expected to remain rangebound with a short-term downward bias due to excess supply. Cold storage facilities are currently at full capacity, indicating an adequate supply. With export demand projected to stay low, any aggressive price increases are likely to be limited.
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(By Commoditiescontrol Bureau: +91 9820130172)
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