The red chilli market in Guntur, the largest trade hub for the commodity in India, has been experiencing a decline in the arrival of this popular grocery item.
Low price, reluctant farmer in red chilli market
The recent intermittent fall in the wholesale price of red chillies has caused farmers to limit the sale of their produce. Despite the slump in the local grocery market, the sale of red chillies remains slow. Similar trends were observed in Warangal, where the arrival of red chillies has decreased to around 15,000 bags compared to the 25-30 thousand bags that were arriving earlier.
Red chilli arrivals reached a record level of 1.25-1.50 million bags daily, but intermittent falls in wholesale prices led to weak demand from buyers and exporters. Farmers held onto their crops despite the slump since the reduced price wasn’t attractive.
Future Scenario
Traders believe that if the arrival of red chilli remains low in the coming days, then the wholesale prices may stabilize. Thus, there may be a brake on the slowdown in the cost of red chillies in the days to come. With prices falling, consumers can look forward to enjoying the spicy goodness of red chillies without burning a hole in their pockets.
Import/Export Statistics
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