Mumbai, April 4 (CommoditiesControl): Chilli markets across Guntur exhibited stability in prices, with minor fluctuations in select varieties, while Warangal and Khammam witnessed a firming trend with prices experiencing notable increases by Rs 500-1,500 per quintal.
However, the Teja variety in Warangal faced a decline due to higher arrivals, reaching a six-month low amidst abundant supply. This downward pressure on prices is increased by reduced export and domestic demand.
Market reports indicate that Guntur's major markets saw stable arrivals, with some variations observed in specific varieties. Meanwhile, Warangal and Khammam markets reported robust arrivals, contributing to the upward movement in prices.
Guntur witnessed arrivals of approximately 100,000 bags, maintaining stability, while Khammam reported a slight decrease with 5,000 fewer bags. Warangal, on the other hand, observed an increase in arrivals, totaling 50,000 bags, marking a rise of 10,000 bags from the previous session.
The current season commenced with prices already under pressure due to higher carry-in stocks and surpassing supply expectations. Although prices have significantly declined from previous highs, they are anticipated to stabilize within a certain range in the foreseeable future. The prevailing summer season is expected to dampen demand further, contributing to the subdued market sentiment.
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