Stable Chilli Prices in Key Markets Amid Dull Buying Activity

Mumbai, February 22 (CommoditiesControl): Chilli prices in Guntur's major markets have remained relatively stable for major varieties. However, prices of Teja Deluxe witnessed a decline by Rs 200 per quintal due to dull buying activity. The Warangal market was closed due to a festival, while prices in Khammam remained relatively stable.

Market participants anticipate that demand from exporters and domestic consumers will remain robust, providing support to prices. Additionally, the prolonged dry spell is expected to reduce production, leading to a shorter harvest season, which is likely to conclude in March instead of May.

For Teja Deluxe, quintal prices in Guntur ranged between Rs 20,600 and Rs 20,800, showing a decrease of Rs 200 per quintal. Teja reported quintal prices ranging from Rs 17,000 to Rs 21,000, remaining stable from the previous session.

Market arrivals in Guntur and Khammam stood at 1,50,000 bags and 90,000 bags, respectively. The reopening of the market after a four-day holiday resulted in a significant increase in arrivals, as reported by market participants.

In December, the Department of Commerce released export data, indicating a year-on-year increase in exports of whole and powder forms, attributed to higher imports from Bangladesh and Indonesia. Exports for the month were reported at 31,873 MT, reflecting a 6.6% YoY increase. Cumulative exports from April to December reached 2,89,642 MT, up 10.7% YoY.