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India: Chilli prices improved

Mintec Global
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MUMBAI – Chilli has held a steady price in the market so far since the beginning of August. Despite starting the last month at USD 2,07 per kg FOB, it slightly increased throughout July and closed at USD 2,09 per kg FOB.

For August, it is still holding the same price, but according to traders, the price will increase by 30 to 40 per cent in the coming months. As a result, the market analysts believe that the growers will hold on to the chilli stock as there might be a shortfall in the upcoming months.

The lowest variety of chilli is now selling at USD 1,14 per kg FOB, while the export variety Teja is clocking at USD 1,95 per kg FOB.

Teja is the largest export variety which earns about USD 537,26 million in revenue. However, the increase in the Teja variety has left with no takers of the product in the export market. Mainly after it crossed USD 1,81 per Kg FOB, there has been a significant drop in the export of the Teja variety. Currently, it is going 40 percent more expensive than last year.

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