Mumbai, May 23 (Commoditiescontrol): Chilli prices in the Warangal markets declined as buyer activity remained subdued. The prices for Teja and 341 varieties fell significantly, dropping by Rs 1,000-1,800 per quintal. Meanwhile, Wonder Hot variety saw no trading activity due to the absence of arrivals.
The market reported stable arrivals, with 7,000 bags coming in, consistent with the previous session. However, demand from stockists and exporters has remained muted, contributing to the downward pressure on prices. This lack of demand is expected to keep prices under control at least until mid-June.
Despite trading at a multi-year low, chilli prices are anticipated to stay range-bound with a negative bias in the near term. The market's bearish sentiment is driven by the current inactivity among buyers and the steady supply.
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