Mumbai, April 19 (CommoditiesControl): Chilli prices in major markets exhibited mostly stable to firm trends, with Teja prices remaining steady in Guntur and Khammam, but witnessing an uptick in Warangal.
Market sources attribute this to prices hitting a multi-year low due to excess inventory and higher-than-expected arrivals. Demand reportedly remains hand-to-mouth as arrivals continue to rise. Despite expectations of lower production due to severe drought, poor quality has resulted in yields similar to the previous season.
Arrivals at the Guntur markets totaled 50,000 bags, marking a decrease of 20,000 bags from the previous session. Warangal and Khammam markets reported arrivals of 10,000 and 25,000 bags, respectively, with a decrease of 25,000 bags in Warangal arrivals, while Khammam's remained stable.
Domestic demand remains robust, but export demand is stagnant, exerting pressure on prices. Reports suggest that Bangladesh is sourcing imports from Myanmar and China, reducing import demand from India. However, the presence of higher carry-in and supply levels than anticipated are likely to curtail aggressive price hikes.
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