Mumbai, July 15 (CommoditiesControl): Chilli prices in major Indian markets displayed mixed trends recently, with some varieties witnessing a decline while others saw an increase. In Guntur, prices for several chilli varieties dropped, although Teja deluxe chilli experienced a rise of Rs 500 per quintal. Khammam's market reported stable prices, whereas Warangal saw a decline.
Local traders attribute the price fluctuations to tepid buying from end users, causing prices to drop since the beginning of the month. Additionally, weak export demand is putting downward pressure on prices.
Today's chilli arrivals reported at 69,000 bags, a reduction of 1,000 bags due to lower arrivals in Warangal. Compared to the previous week, arrivals were down by 20,000-25,000 bags. Guntur recorded 60,000 bags, Warangal 4,000 bags, and Khammam 5,000 bags.
Export figures released by the Ministry of Commerce for May show a total of 26,967 metric tons (MT) exported, marking a significant 38% decrease year-on-year. The decline is primarily due to significantly lower exports to China and Bangladesh. Exports to Bangladesh dropped by 33%, while those to China plummeted by 72%. Cumulative exports for April-May totaled 62,750 MT, representing a 31.3% decrease year-on-year.
Looking ahead, prices are expected to remain stable with a potential short-term drop due to excess supply. Export demand is anticipated to stay low, which could limit any price increases. Until there is more clarity on acreage and production levels, chilli prices are likely to remain subdued.
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