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Chilli Prices Show Mixed Sentiment Across Major Markets

18 Apr 2024 4:02 pm
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Mumbai, April 18 (Commoditiescontrol): Chilli prices in major markets displayed a mixed trend, with stability seen in Guntur, an increase observed in Warangal, and a decline noted in Khammam.

Market sources attribute this mixed sentiment to a multi-year low in prices, driven by excess inventory and higher-than-expected arrivals. Demand remains subdued, leading to a hand-to-mouth scenario as arrivals continue to surge.

Arrivals at the Guntur markets totaled 70,000 bags, marking an increase of 5,000 bags compared to the previous session. Meanwhile, Warangal and Khammam markets reported 35,000 and 25,000 bags, respectively. Warangal saw a decrease of 5,000 bags in arrivals, while Khammam's arrivals remained stable. The reopening of markets after several days of closure led to significantly higher arrivals yesterday.

Despite strong domestic demand, export demand remains stagnant, putting pressure on prices. Reports suggest that Bangladesh is sourcing from Myanmar and China, contributing to reduced import demand from India. However, the combination of higher carry-in stocks and greater-than-anticipated supply is expected to constrain aggressive price increases in the near term.



       
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