Red Chilli spot market in major markets of India, was reported steady to firm. At Bedia (Madhya Pradesh) market, chilli prices were reported up as the arrivals were good quality. Today total 4,000 bag arrivals were reported. Farmers are waiting for higher prices for releasing their produce. As per market information, due to bad weather, some quality damage reports also supported the prices.
Farmers are expecting state Government support for their crop loss. At Byadgi market, new chilli arrivals reported around 35,000 bags. Buyers are inactive at current higher prices due to the overflow of chilli cold storage stocks in AP, Telangana, Karnataka, and expectations of an increase in sowing area. Traders expect Red Chilli prices to correct from higher levels after the Diwali festival and the sources suggest stockists should offload their stocks in a phase-wise manner in the coming days.
Red Chilli new crop supply is likely to start at Guntur market from January onwards. As per the current situation, suppliers expect bumper Red Chilli crop in the coming marketing year.
According to the experts, this year’s crop is up by 15.10% from last year. At Bedia market, the previous week’s total supply reported around 6,000 bags (1 bag = 35 Kgs), while new chilli arrivals reported around 1,000 to 1,500 bags with moisture conditions. From total supply, 80% fatki variety and 20% good quality supply was reported.
As per AP agricultural data as of 12th October, current year chilli sowing completed around 183,550 hectares, compared to last year’s 139,000 hectares. No crop damage was reported in AP and Telangana; standing crop quality was reported good as of now.
This week Chilli S4 Stemless prices are being offered around 2,10 $ per Kg FOB basis.