Mumbai, September 9 (CommoditiesControl): Chilly prices have largely remained stable in key markets of Guntur and Warangal, while Khammam was closed today due to excessive rainfall. Over the past two months, prices have consistently ranged between Rs 155 and Rs 185 per kilogram. Traders attribute the stability to near-full warehouse stocks and the anticipated reduction in acreage.
Heavy rains and flooding have impacted major chilly-growing regions in Andhra Pradesh and Telangana. The Indian Meteorological Department (IMD) has issued a fresh red alert for Vijayawada, raising concerns over potential crop losses in the Guntur and Krishna districts.
Today’s arrivals totaled approximately 55,000 bags, marking a decrease of 10,000 bags compared to the previous day. Guntur experienced a decline of 5,000 bags, with arrivals reaching 50,000 bags, while Warangal also reported a decrease of 5,000 bags, totaling 5,000 bags.
The current market conditions suggest that chilly prices may remain on an upward trend, with a potential rise expected around mid-September. The combination of reduced acreage and ongoing excess rains is likely to provide continued support to prices.
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