Mumbai, April 3 (CommoditiesControl): Chilli prices exhibited contrasting trends across major markets, with stability observed in Guntur while weakness persisted in Warangal and Khammam.
Prices in Guntur, after experiencing a decline at the start of the season, stabilized due to decreased arrivals coupled with robust demand. This stability comes after a period of falling prices. Arrivals in Guntur amounted to 100,000 bags, with a decrease of 10,000 bags from the previous session.
In contrast, prices in Warangal and Khammam witnessed a decline, trading lower by Rs 500-1,000 per quintal. Both markets reported prices at a six-month low due to ample supply. Lower export and domestic demand further contributed to the downward pressure on prices. Warangal reported 40,000 bags, down by 10,000 bags from the previous session, while Khammam market reported a steady arrival of 25,000 bags.
Prices have been under pressure since the beginning of the season due to higher carry-in and supply surpassing expectations. Despite the significant drop from previous highs, prices are expected to remain range-bound in the future. Additionally, subdued demand is anticipated due to the summer season.
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