Mumbai, February 19 (CommoditiesControl): In Guntur's major chilli markets, prices were reported to be mostly steady, maintaining a fairly stable sentiment. Despite lower yields, the field update suggests excellent quality this year due to a significantly lower proportion of whites compared to the previous season. This unexpected higher yield is putting pressure on prices, resulting in a stable market. However, in Warangal, prices witnessed a decline of Rs 600 per quintal for Teja. The Khammam market remained closed for the festive holiday.
Market participants are optimistic about the future, expecting strong demand from both exporters and domestic consumers, which is likely to keep prices stable.
Additionally, the extended dry spell is anticipated to reduce production, providing support to prices. Poor crop development is expected to result in a shorter harvest season, concluding in March rather than the usual May timeline.
In Guntur, Teja Deluxe quintal prices ranged between Rs 20,300 and Rs 20,700, witnessing an increase of Rs 200 per quintal. Teja reported quintal prices in the range of Rs 17,000 to Rs 20,500, remaining unchanged from the previous session. Prices for variety 341 saw a decline of Rs 500, while prices for other varieties remained largely stable.
Market arrivals in Guntur saw a significant increase, with 1,50,000 bags received, up from 80,000 bags in the previous session. Meanwhile, the Warangal market recorded 80,000 bags, with market experts attributing the lower arrivals to declining prices coupled with the ongoing festive season.
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