Chili Prices Show Mixed Sentiment Across Major Markets

Mumbai, March 18 (CommoditiesControl): Chili prices in major markets reflected a mixed sentiment today, with fluctuations observed in different varieties across various regions. While Teja and DD prices have seen a slight increase in Guntur, prices have declined in Khammam and Warangal markets. This trend is attributed to subdued demand coupled with higher-than-expected arrivals.

In Guntur, arrivals were reported at 150,000 bags, marking a significant increase of 75,000 bags. Similarly, Khammam markets witnessed a rise in arrivals, with 40,000 bags being reported, an increase of 10,000 bags compared to previous sessions. Meanwhile, the Warangal market reported a substantial increase in arrivals, doubling the figures from the previous session, reaching 70,000 bags.

Despite the increase in arrivals, Teja and Teja Deluxe varieties have managed to maintain a relatively stable price range compared to other varieties over the past month and a half. However, overall prices are being weighed down by the combination of low demand and higher-than-anticipated supply levels.

Market analysts suggest that the higher carry-in, coupled with the unexpected surge in supply, is likely to limit aggressive price hikes. Nevertheless, prices are already discounted significantly from previous highs. Consequently, it is anticipated that prices will remain stable in the near future, barring any unforeseen market disruptions.