Business activities resumed in the Guntur spot market of Andhra Pradesh after the summer vacations. There was news of sluggish offtake, but the prices remained stable. However, the price is expected to remain strong in the coming days.
Current Scenario
After the spot market opened in Guntur, there was information about the arrival of about 40 thousand sacks of red chili. In Telangana, farmers have limited the sale of their red chili crops for some time now.
Earlier it was thought the red chili crop would be weaker than usual in all the three major states of India, Andhra Pradesh, Telangana, and Karnataka. As a result, even after the introduction of the new crop this time, the price of this major grocery commodity remained high.
Surprisingly, from the beginning of the season till recently, the prices of red chilies remained strong in other major spot markets, including Guntur, even after heavy selling by the farmers.
In Guntur, the prices were not that high yet, and it was reported to be as follows:
Teja was reportedly trading at $2,45 – $2,62 per kg. 334 was quoted at $2,04 – $2,36 per kg. Phatki was reported at $0,64 – $1,60 per kg. Similarly, in Warangal, the spot market Teja was reported to be $2,04 – $2,30 per kg.
Due to the heat wave, there was a sluggish offtake of red chilies in the Delhi wholesale market. As a result, the price of 334 remained at $2,24 – $2,36 per kg after gaining by 0,06 per kg.
Future
Traders are waiting for the arrival of the monsoon, which will help with the chill prices in the coming days.