Mumbai, December 09 (CommoditiesControl): After a continuous decline, chili prices in major markets have shown a modest recovery, with prices rising by Rs 2 to Rs 10 per kg for most varieties. This price rebound follows a recent dip to four-month lows, which has sparked renewed buying interest from traders and end-users.
Despite it being a Monday, market arrivals were lower compared to the previous 4-5 weeks, which supported the positive sentiment in the market. Total arrivals were reported at 104,000 bags, an increase of 27,000 bags from the previous session, largely driven by higher arrivals in Guntur and Warangal, while Khammam also resumed operations today. Guntur saw the bulk of the arrivals at 90,000 bags, an increase of 20,000 bags over the last session. Warangal and Khammam reported 6,000 bags and 8,000 bags, respectively.
The slight recovery in prices is attributed to the rainy weather in the region, which has disrupted harvesting to some extent. However, prices are expected to remain under pressure in the coming weeks as harvesting activities resume and arrival volumes increase.
