New Delhi, March 12 (CommoditiesControl): Chili prices in major markets are experiencing mostly firm sentiments, with stability to upward movements observed in the prices of main varieties, particularly Teja and Teja Deluxe.
Markets in Guntur, Khammam, and Warangal have reported an increase in prices ranging from Rs 400-1000 per quintal. This positive trend is attributed to robust demand following a recent decline in prices.
In Guntur, market arrivals were reported at 115,000 bags, showing a slight decrease of 5,000 bags from the previous session. Meanwhile, Khammam and Warangal markets reported arrivals of 30,000 bags and 40,000 bags, respectively. Notably, Khammam witnessed a decline of 20,000 bags, while Warangal reported a similar dip of 20,000 bags.
Despite the current firmness, potential aggressive price increases may be limited due to higher carry-in stocks and a supply exceeding expectations. As a result, prices are anticipated to remain stable to slightly lower, given the higher-than-expected arrivals.
It is noteworthy that many buyers have already secured their requirements at the beginning of the season, expecting lower production. This prior coverage might keep buyers away from the market in the short term, contributing to the overall stability in prices.
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