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Chilli Prices Remain Mostly Stable Amid Weather Concerns

18 Jun 2024 2:29 pm
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Mumbai, June 18 (Commoditiescontrol): Chilli prices were reported to be stable across major markets on Tuesday. In Khammam, prices held steady, while in Warangal, there was some fluctuation: the 341 variety saw a price increase, while the Wonder Hot variety experienced a decline.

Local sources indicated that buyers were cautious due to high rainfall activity reported across the major chilli-growing regions, raising concerns about potential acreage reduction.

The monsoon has now swept across South India's chilli-growing areas. Despite prices being at multi-year lows, expectations are that acreage will remain low, which is likely to boost sentiment in the spot markets.

Air-conditioned (A/C) arrivals reached 93,000 bags, primarily sourced from cold storage facilities. Guntur reported 75,000 bags, an increase of 25,000 from the previous session. Khammam saw arrivals of 10,000 bags, up from 8,000 in the previous session, while Warangal's arrivals remained consistent at 8,000 bags. Non-A/C bag arrivals were estimated to range between 14,000 and 15,000 across markets.

In the short term, chilli prices are expected to remain stable as markets reopen after the summer break. The full capacity of cold storage facilities suggests an adequate supply, and low export demand may limit any significant price increases.


       
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