Indian Red Chilli: Possibility of Recession as the Atmosphere of the Storm Settles?

There was a slight uptick in Indian red chillies in the domestic market due to cyclone Medusa which lashed Tamil Nadu and Andhra Pradesh, and other coastal states in the past as traders feared damage to the crop. Now the storm has passed. Therefore, the fear of recession in red pepper will increase again in the coming days.

Storm effect

Due to this storm, the traders feared damage to the new crop of red chillies. Because of this, red pepper in the local wholesale grocery market has recently jumped. Now, as this storm has passed, its effect has also ended. However, in the coastal districts of Andhra Pradesh, its effect is negligible. 

In Andhra’s Guntur market, the arrival of new red chillies was reported to have increased to about 10-11 thousand bags. Presently, including this, about 40-45 thousand sacks of red chillies were said to have arrived in the Guntur market these days. 

Mentality of the farmers

Earlier, farmers of Andhra Pradesh and Telangana had limited the sale of their red chilli crop for some time now in the hope of getting higher prices. This was the reason that even after the start of the new crop this time, the spot price of this significant grocery commodity remained high. 

Due to the increase in the off take in the wholesale grocery market, red chilli has recently increased. Currently, it remains at $2,77/$2,89 per kg. Earlier, there was a minor downtrend. Since the storm has passed. Therefore, in the coming days, red pepper may turn bearish again. 

The Chilli dried long red stemless prices were recorded at $2,71 per kg FOB.

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