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Red Chilli Prices Fall Sharply On Subdued Demand

20 Sep 2019 6:48 pm
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MUMBAI (Commoditiescontrol) - Spot red chilli prices fell at the key Warangal market on Friday due to lacklustre export demand and higher arrivals.

Today, arrivals in Warangal were today pegged at 7,000 bags (1 bag = 35 kg) from 3,000 bags on Thursday.

Traders said increase in sowing area and a good monsoon may help stabilise red chilli prices, which have fallen after escalating to a new high of Rs 165 per kg last week.

Supply crunch and a steady domestic demand drove Teja , the premium variety of the largest exported spice from India, up nearly 15 percent in a month to a record level. But with chilli acreage for the new season going up in the main producing regions of Andhra Pradesh, Telangana and Karnataka, Teja prices have dipped to Rs 160 per kg.

Prices may come down again slightly in anticipation of a good crop as the acreage has increased 15 per cent. As a result of good rains, Godavari and Krishna rivers are running full which may help reap a good harvest next year, traders said.

Chilli prices are hovering in the range of Rs 120 per kg for the lowest quality to Rs 160 per kg for the premium varieties, 40-50 per cent higher than that last year.

High prices have slowed down exports. China is not buying much, as chilli has become dearer. Besides, their chilli crop will be harvested next month which may impact Indian chilli prices. But there is robust domestic demand for the Sannam variety, the arrivals of which are also good, they said.

Industry executives said that chilli prices may stabilise in the range of Rs 140-145 per kg in the coming weeks in expectation of a good crop and sluggish demand from China when its new crop arrives.

The first chilli crop of the new season is due next month from Madhya Pradesh. Though the sowing was higher, heavy rains could have caused some damage in the state.

Madhya Pradesh produces about 300,000 tonnes of chilli, out of a total production of around 2.3 million tonnes in the country. But in the past couple of years, the output was below normal because of a virus attack in the farms. Andhra Pradesh and Telangana together account for more than 60 per cent of India’s total output of chilli.

Commodity

Market

Variety

Min Today(Rs/100Kg)

Max Today(Rs/100Kg)

Min Previous Day

Max Previous Day

Change(Max Today-Prev Max)

Arrival

Chilli

Warangal

334

12000

13000

13000

13700

-700

7000

Chilli

Warangal

TEJA

14000

15500

13500

16000

-500

Chilli

Warangal

1048

10000

12000

10000

12200

-200

Chilli

Warangal

341

10000

12600

10000

13700

-1100

Chilli

Warangal

TOMATO

9000

11200

0

0

11200

Chilli

Warangal

W.HOT

9000

12000

9500

12400

-400


       
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