It has been eight days since the end of summer vacations in the Guntur spot market of Andhra Pradesh. Even after this, there was information about the arrival of red chili in limited quantities. The arrival of red chili in the spot market is reported to be about 40-45 thousand sacks despite that its price remaining firm in a limited range.
The price is not moving up due to the off-take remaining sluggish. In addition, the activity is slow due to the onset of monsoon season in several states and floods in several northeastern states.
Before this, the price had remained stable for the spice. However, the increase in the selling and arrival of the commodity limited its range.
Earlier, farmers in Andhra Pradesh and Telangana had limited the sale of their red chili crops for some time in the hope of getting higher prices.
However, in the past, the red chili crop was already being feared to be weaker than expected in all three major states of India Andhra Pradesh, Telangana, and Karnataka.
This was the reason that even after the introduction of the new crop this time, the price of this significant grocery commodity remained high on the spot.
The result was from the beginning of the season till recently. There were reports of red chili prices remaining strong in other big mandis, including Guntur, even after the farmers increased their sales.
But now, the price is expected to remain within the range, and there can be a bit increase, but there is no scope for the cost to become bullish, mainly after pre-monsoon activities have started in North India and parts of the capital Delhi.
The Chilli S4 stemless prices were Recorded at $2,43 per kg FOB
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