Chilly Prices Remain Weak as Arrivals Decline Sharply

Mumbai, May 8 (Commodities Control): Chilly prices in Guntur's major markets continued to trade at low levels due to weak demand. Despite reaching multi-year lows, there has been little demand from stockists, as cold storage facilities are reportedly full. However, prices for Teja and Teja Deluxe varieties have remained stable. Closure of markets in Khammam and Warangal, due to alternative openings following the summer season, also contributed to the subdued market activity.

Arrivals at the Guntur markets totaled 35,000 bags, marking a significant decrease of 10,000 bags compared to the previous session. This decline in arrivals is attributed to farmers' reluctance to sell at lower prices, resulting in significantly lower volumes compared to the previous week.

Weak domestic demand, coupled with subdued export demand, has led to price declines. However, prices are anticipated to find support in the upcoming sessions as they approach multi-year lows.