New Delhi, June 27 (Commodities Control): In major markets, chilli prices remained stable to weak as buyers showed limited activity. This inactivity is attributed to the adequate rainfall received in chilli-growing regions, which is likely to prevent a significant decrease in acreage. According to market sources, demand remains low due to sluggish export activities.
AC arrivals totaled 86,000 bags, primarily from cold storage facilities. In Guntur, the largest chilli market, arrivals were reported at 70,000 bags, a decrease of 10,000 bags from the previous session. Warangal reported 8,000 bags, down by 2,000 bags from the last session. Non-AC bag arrivals were estimated to be between 18,000 and 20,000 bags per market.
Despite a significant drop in prices, seed sales have exceeded expectations, suggesting a potential 10% reduction in acreage. However, this reduction may not be substantial enough to impact prices significantly in the short term. The cold storage facilities being at full capacity indicate an ample supply, which, coupled with low export demand, is expected to keep prices range-bound with a short-term downward bias.
Given the current market conditions, chilli prices are expected to remain stable to weak in the near term. The excess supply from cold storage and low export demand are likely to prevent any aggressive price hikes.
(By Commoditiescontrol Bureau: +91 9820130172)
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