Weak Sentiment in Chilly Prices Due to Low Weekend Demand

Mumbai, March 01 (Commodities Control): Chilly prices in major markets experienced mostly weak sentiment attributed to lower demand over the weekend. Prices were observed to be lower by Rs 500 to 1,000 per quintal, despite a decline in arrivals. The market update suggests that an unexpectedly high supply is exerting pressure on prices.

Although domestic demand remains robust, slow export demand is contributing to the downward pressure on prices, even with higher quality compared to previous seasons. This season's arrivals are marked by superior quality after two seasons of floods or excessive rain.

In the Guntur markets, arrivals were reported at 80,000, roughly half of the previous session. Khammam and Warangal markets witnessed arrivals of 40,000 bags each, with Khammam experiencing a 10,000-bag decrease and Warangal observing a more substantial drop of 40,000 bags.