INDIA – Experts believe that despite the increased price, the overall market for red chili will remain bullish for the next five to seven days. After that, however, the rate of the individual varieties may fluctuate a bit between being firm and stable.
Current Scenario
For red chili 334, there was sluggish buying due to the increased price, which made the commodity stay at the previous rate of $2,41 per kg. A few days back, the price increased for the spice by $0,03 per kg. Before that, the commodity price had hiked by $0,07 per kg. However, the stockists did the earlier price hike majority of the buying for red chili 334.
Arrival
Despite the weekly holiday, red chili arrival was estimated to be between 50 and 60 thousand bags.
Prediction
Despite the increased price, the activity in the market for red chili is expected to stay strong. It will hence support the rates of all the varieties of the commodity. The earlier prediction of limited production of red chili benefits the market and the farmers. Therefore, it is expected that the price will remain stable or improve more for the next few days. There is no expectation of a correction in the red chili prices for next week. Also, the red chili prices are expected to remain strong in the spot market for the coming season.
Price Trend
Chili S4 stemless
| Date | Price |
| May 12 | $2,33 per kg FOB |
| May 9 | $2,32 per kg FOB |
| May 5 | $2,30 per kg FOB |
| May 5 | $2,28 per kg FOB |
| May 3 | $2,25 per kg FOB |