Red chili wholesale prices continued to rise intermittently in major spot markets of Andhra Pradesh and Telangana. The rise in red chilies is expected to continue in the coming days. One major reason the price is bullish is the support it is getting from the local and export demands.
There have been reports of good Monsoon rains in many other states of the country, including Andhra Pradesh and Telangana. It is worth mentioning that Andhra Pradesh and Telangana are the country’s largest producing states of red chilies. Due to the recent floods and rains in these two states, there is no information about the damage to the new crop of red chilies, but the possibility of loss is not being ruled out. Because of this, the market sentiment is getting affected.
It has been reported that 40 thousand sacks of red chilies have arrived in Guntur in the last few days. There has been a significant increase in red chilies due to the arrival being comparatively rougher.
The capital Delhi also received rain today. Earlier, farmers in Andhra Pradesh and Telangana had limited the sale of their red chili crop for some time in the hope of getting higher prices in the future. However, in the past, the red chili crop was already being expressed in the three major states of India, Andhra Pradesh, Telangana, and Karnataka. This was the reason that even after the introduction of the new crop this time, the price of this major grocery commodity remained high on the spot. As per market experts, it will continue to be so.
The Chilli dried long red stemless prices were Recorded at $2,51 per kg FOB
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