New Delhi, May 7 (Commodities Control): Chilly prices have taken a significant dip across major markets, particularly in Guntur where certain varieties witnessed a notable decline. Reports indicate that Teja prices experienced a downward trend in both Guntur and Warangal markets, while Khammam markets remained shuttered.
The price fall in Guntur and Warangal markets has been attributed to a staggering Rs 500 per quintal drop in Teja deluxe prices, primarily driven by subdued demand. Market analysts suggest that the current abundance of chilly stock in cold storage facilities is exacerbating the situation, exerting downward pressure on prices. Ground reports further affirm the mounting inventory levels, indicating that warehouses are nearing maximum capacity.
Market arrivals at Guntur witnessed a significant decrease, with reported arrivals standing at 45,000 bags - marking a notable decline of 20,000 bags compared to the previous session. Similarly, Warangal saw a decrease in arrivals, with only 12,000 bags reported - down by 8,000 bags from the preceding session.
The weakening domestic demand, coupled with a lackluster export market, has been cited as the primary factors behind the recent price downturn. However, analysts anticipate a potential reversal in prices in the upcoming sessions, as it currently hover near multi-year lows.
0 Comments 
Post Comment 
