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Chilly Prices Witness Mixed Trends in Major Markets

29 Feb 2024 4:28 pm
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New Delhi, February 29 (Commodities Control): Chilly prices in key markets experienced a mixed trend today, with stability in Guntur, and declines observed in Khammam and Warangal. The fluctuations are attributed to higher-than-expected arrival, influencing market trends. Additionally, export demand from Bangladesh is anticipated to be subdued, exerting further downward pressure on prices.

Guntur, a major chilly market, has reported relatively stable prices, showing resilience amidst market pressures. However, Khammam and Warangal have witnessed a decline in prices. The unexpected surge in supply has created a challenging scenario for traders and farmers alike.

Teja Deluxe prices, which faced a sharp drop in the preceding week, have shown signs of recovery with a slight increase. Despite the challenges posed by increased arrivals, Teja Deluxe prices have managed to bounce back, reflecting the resilience of the market.

The market trends reveal that domestic demand remains robust, providing some support to prices. However, the slow export demand is a concern, especially considering the higher quality of chilies compared to previous seasons. The current season has seen a notable improvement in quality after two consecutive seasons were marred by floods and excessive rain.

In the Guntur market, Teja Deluxe quintal prices have fluctuated between Rs 20,500 and Rs 21,000. On the other hand, Teja quintal prices have remained unchanged, ranging from Rs 17,000 to Rs 20,700, in line with the previous session.

Market reports indicate a substantial increase in arrivals at the Guntur markets, reaching 150,000 bags, doubling the figures from the previous session. Meanwhile, Khammam and Warangal markets reported arrivals of 50,000 and 70,000 bags, respectively. Khammam experienced a decline of 35,000 bags in arrivals, while Warangal witnessed a decrease of 10,000 bags.

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