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Chili exports struggles as high prices dents demand; Speculators pile up inventories

17 Dec 2022 2:57 pm
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Mumbai, 17 DEC (Commoditiescontrol): India's Chili exports suffered a set-back from dwindling demand for the spice, which witnessed sharp rise in prices amid fall in domestic output.

As per the data analyzed by CCCommoditiescontrol, whole Chili exports during the on-going fiscal year (Apr-Mar period) slumped near 35%.

Demand has petered out after witnessing robust growth in early part. China continued to dominate Chili imports from India followed by the neighboring countries such as Bangla Desh and Malaysia.

Trade observers have blamed high prices as main reason behind fall in exports. Also, the speculators have cornered large amount of Chili, which has led to tight availability.

In 2021-22, India exported red Chilies worth Rs 8,582 crore. China accounts for the largest share in the export market, with over 40%.

(By Commoditiescontrol Bureau: +91-9820130872)

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