New Delhi, May 16 (Commodities Control): Chilly prices in the major markets of Warangal witnessed stability to weakness, driven by subdued demand amid the approach of summer's end.
With the conclusion of the summer season, end-user demand has reportedly weakened, compounded by warehouses reaching near-full capacity. Despite prices hovering at multi-year lows, stockists are displaying reluctance to make purchases.
Arrivals in the market amounted to 15,000 bags, with Wonder Hot prices declining by INR 1,500-1,300 per quintal, while Teja variety reported a slight increase by Rs 1,000 per quintal. The higher supply of these varieties has exerted downward pressure on prices in the spot markets.
Overall, this market scenario underscores the impact of seasonal shifts on commodity prices, with subdued demand and ample supplies leading to a downward trend in chilly prices.
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