Mumbai, May 10 (CommoditiesControl): Chilli prices in Guntur's primary markets of Guntur and Khammam remained relatively stable, although a decline was noted for select varieties in the Guntur market. Warangal market remained closed due to alternative openings.
Arrivals in Guntur markets amounted to 35,000 bags, marking a decline of 10,000 from the previous session. Farmers appear hesitant to sell at current lower prices, leading to expectations of significantly lower arrivals compared to the previous week. Similarly, arrivals in Khammam were estimated to be 10,000 bags lower compared to the previous session.
Weak domestic demand, coupled with low export demand, has contributed to the decline in prices. However, prices are anticipated to find support in the upcoming sessions as they approach multi-year lows.
Market participants are closely monitoring demand dynamics and arrival trends to assess future price movements.
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