Mumbai, May 17 (Commodities Control): The chilly market in Warangal saw mixed price trends today amid broader market closures due to the summer season. Prices for the popular 341 varieties continued to show downward trend, while Teja and Wonder Hot varieties rebounded from a sharp decline experienced the previous day.
According to market reports, the prices for the 341 variety of chillies fell by Rs 3,500 per quintal, reflecting a continued slump. Conversely, the Teja variety saw an increase of Rs 1,000 per quintal, indicating some recovery in demand for this particular variety. Wonder Hot chillies also experienced a price uptick after yesterday's significant drop.
The overall demand for chillies remains weak, a situation exacerbated by the seasonal summer lull. This has led to reduced buyer interest, even as prices hit multi-year lows. Stockists are particularly cautious due to nearly full warehouses, which has further dampened market activity.
Market arrivals were reported at 10,000 bags today, down by 5,000 bags from the previous session, indicating a decrease in supply. In the spot markets, prices continue to be suppressed by the lack of robust demand.
With other major markets closed for the season, Warangal's mixed price movements highlight the challenges faced by the chilli trade during the summer months.
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