Red Chilli Continues to Gain Momentum

Presently, the farmers cultivating chilli in Madhya Pradesh seem to be getting relief. Since Diwali, there has been a decrease in the arrival of chillies in the markets, and the prices have hiked significantly this year.

Vast decline in the production

Along with vegetables and fruits, there has been a vast decline in the production of chillies, and red chillies have become very expensive. Chilli prices are witnessing an uptrend due to increased demand and short supply.

Last week, the maximum price of this variety of Chilli was $6,19 per kg, while last year’s maximum price was  $2,56 per kg. The minimum rate has also doubled $0,37.

Significant damage

Experts say that the costs of red chillies may increase further in the coming times. Unseasonal heavy rains a few days back have caused significant damage to the chilli crop, and as it is time for harvesting the new crop, the price of chilli is likely to increase.

In Karnataka, areas around Kundagol and Annigeri were flooded due to heavy rains, affecting the chilli crop. This spoiled the quality of the produced chilli. Traders said good-quality chillies will hit the market in the coming weeks. Low chillies in cold storage stock also support the prices. Chilli stock at the onset of the season this year is estimated to be around 0.5 million bags. Last year during the same period, the stock was around 2 million bags. Thus, the momentum in Chilli will continue in the upcoming days.

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