Mumbai, March 27 (Commodities Control): Recent reports indicate mostly firm cues in chili prices across major markets, with notable recoveries observed in Guntur, Warangal, and Khammam markets.
This trend in prices comes amidst increased volatility in recent days, marked by fluctuating arrivals. Particularly, demand for Teja and Teja deluxe varieties remains robust, contributing to price stability.
In Guntur and Khammam markets, arrivals were reported at 120,000 and 30,000 bags, respectively. Guntur witnessed a slight decrease of 5,000 bags, while Khammam market reported an increase of 5,000 bags. Meanwhile, Warangal maintained stability with 40,000 bags, consistent with the previous session.
Despite the upward momentum in prices, the market faces pressure as carry-in rises and supply surpasses expectations. However, it's worth noting that prices have already seen significant declines from their previous highs. Moving forward, prices are anticipated to remain steady or exhibit firmness.
In other developments, the Ministry of Commerce released export figures for January, revealing a marginal 0.5% decrease with total exports amounting to 35,796 metric tons. However, the cumulative exports from April to January showed a notable 5.8% year-on-year increase, totaling 3.25 lakh tons. The decline in monthly exports can be attributed primarily to reduced imports to China, where exports reported a substantial 29.2% year-on-year decrease.