Is Rain Likely To Keep Red Chilli Strong? Why market experts stated that the rise in Indian Red Chilies would continue in the coming days.

Wholesale prices of red chilies continued to rise intermittently in major spot markets of Andhra Pradesh and Telangana. The firm support from exporters and domestic demand helped the prices.

The monsoon has been good in the country, mainly in the two red chili-producing states, Telangana and Andhra Pradesh. But the rain has also caused floods, and there is a possibility of the crop getting damaged in some areas. However, currently, there is no report on crop damage. With the future possibility of crop damage, the market sentiment is getting affected as traders and stockists have purchased the products in excess.

Also, due to rain, there has been a slight decrease in the arrival of the red chilies in the spot market. For instance, 40 thousand sacks arrived in Guntur when the off-take was strong.

Guntur recently jumped from $2,65 – $3,03 per kg. Broken Chilli, on the other hand, jumped $1,39 – $1,83 per kg. Similarly, there has been a rise in the Teja hot variety in the Warangal spot market of Telangana.

The red chili price remained strong in the capital city, Delhi, despite the grocery market’s sluggish off take.

Experts also believe that with the decrease of the rain, the arrivals will increase with somewhat weak purchases. As a result, the price can stay within a limited range in the coming days.

Earlier, despite the increase in the selling of red chili by the farmers, the price has remained strong. But in the coming days, there can be a little slowdown in the red chilies market, depending on the status of new crop. Experts state that market might witness mix trend in coming days.

The red Chilli prices were Recorded at $2,55 per kg FOB.

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