Chilli Prices Weaken Amidst Subdued Demand in Guntur Market

Mumbai, April 8 (CommoditiesControl): Chilli prices in the Guntur market witnessed weakness today, primarily due to sluggish demand conditions. While Guntur markets operated as usual, Warangal and Khammam markets remained closed due to Amavasya. The combination of lower export and domestic demand has exerted downward pressure on prices.

Arrivals in the Guntur markets were reported at 110,000 bags, with specifically 10,000 bags arriving in Guntur. This influx of supply, coupled with weak demand, has contributed to the prevailing bearish sentiment in the market.

Prices have been on a downward trend since the beginning of the season, driven by an increase in carry-in stocks and supply surpassing initial expectations. Although prices have already experienced significant declines from previous highs, they are anticipated to remain within a range in the near term. The onset of the summer season is expected to further dampen demand, keeping prices subdued.