INDIA: With the summer vacation in the Andhra Pradesh Guntur spot market, the red chilli supply is expected to be lower. Therefore, market experts believe it will help keep the red chilli prices firm in the coming days.
Current Scenario
After the summer vacation, the business is expected to resume on June 14.
Earlier, there was an increased selling by the farmers of the spice. It resulted in the increased arrival of red chillies in the leading spot markets of the country.
However, before the start of the holiday, the arrival of red chillies was reported to be about 60-70 thousand sacks. Earlier, farmers in Andhra Pradesh and Telangana had limited the sale of their red chilli crop for some time in the hope of getting higher prices.
Earlier, there was a fear of low production of red chilli than average in all the three major states producing states, Andhra Pradesh, Telangana, and Karnataka. It led to prices remaining high for the spice even after the introduction of the new crop this time. As a result, from the beginning of the season till recently, there were reports of red chilli prices remaining strong in the major spot markets, including Guntur. So it is even after the farmers increased their sales.
In the Guntur line, the arrival of goods has reduced. Due to the increase in the arrival of cold goods. The demand for those grinding red chillies has increased in Delhi. It is leading the market to grow slowly. The wedding season is the other factor that will help the price to stay up for the red chillies. In Delhi, despite the recent drop in temperature, red chilli buying remains sluggish.
Future
Red chilli in the spot may remain near its current level in the coming one or two days. But as the monsoon starts, the price of red chilli is expected to get stronger and remain so in the coming days.
Also, with spot markets of South India, including Guntur, closing for a month, we will see a lowering in business. The stock in producer and distributor spot markets is 32% less than last year. Due to this, there won’t be much visibility in the price slowdown.
Price Trend
The prices of different varieties in Guntur were as the following:
- Teja’s price is about $2,44 -$2,64 per kg at present.
- Number 334 is priced between $2,06 – $2,38 per kg
- Phatki (Broken) remained at $0,64 – $1,61 per kg
The following reports may be of interest to you:
Author
Related posts:
Indian Chilli Might Become The Bumper Crop With Increased Acreage 
Indian Commodities that Experienced a Rise in their prices this month 
India: Chilli production to touch a new level Chilli production in India to touch 2 million tonnes in fiscal year 2021 
The stable Indian commodities of the week An outlook on the stable commodities turmeric, red chilli, black pepper, and chickpeas. This report will show what are the factors due to which these commodities still have stable prices. 
Indian chillies: Good demand is increasing 
Mixed but Steady Trend in Indian Spices Indian farmers switch to chilli 
Mix trend in chilli market