Chilly Prices Exhibit Stability to Upsurge in Guntur Markets

New Delhi, May 9 (Commodities Control): Chilly prices in Guntur's primary markets, including Guntur, Khammam, and Warangal, showed a trend of stability to upward movement owing to robust demand at reduced levels. Moreover, a significant decline in arrivals compared to the previous week exerted upward pressure on prices, with selected varieties witnessing an increase of 400-1,000 per quintal.

Arrivals in Guntur markets reached 45,000 bags, marking a notable increase of 10,000 bags from the previous session. However, arrivals remain substantially lower than the previous week, attributed to farmers' reluctance to sell at prevailing lower prices. In Khammam and Warangal, arrivals were estimated at 8,000 and 15,000 bags, respectively.

Despite weak domestic demand coupled with subdued export demand, which initially led to price declines, prices are anticipated to stabilize in the upcoming sessions as they approach multi-year lows.