Stable Red Chilli Market in India

Last week, the red chili market was steady. The low supply in the market kept the price stable in most spot markets.

Current Scenario 

• In New Delhi, there were reports of a nominal price slump with the increase in the arrival of new chilies.
• Earlier, the price increased to $0,26- $0,33 per kg, again it went down to $0,13 per kg.
• However, in Indore and South Indian spot markets, the prices are still high for the commodity.
• The price stayed stable in most spot markets since the stockists held back their stocks.
• In most spot markets, the stockists are now storing the quality crop for the future.
• Earlier, in the Guntur spot market (the benchmark market for the commodity), 50 percent of the red chilies were of low quality due to the rain. Most of them had a moisture content of 6 to 7 percent.

As a result, the buyers have become active for the quality products and want to keep them for the future.

Furthermore, with good export demand for quality crops, the commodity’s price is expected to stay high this year.

Prediction 

Though the overall production of the crop is 1,466 million MT compared to last year’s 1,384 million MT, the price will stay up for the red chili. According to the experts, the rain has impacted the quality of the crop. As a result, buyers will pay money for the excellent quality crop, which will keep the market stable and even move upward in the coming days.

The new crop buying is likely to start from mid-May. During this time, stockists will release the quality product at a higher price, making the market bullish.

However, there can be a temporary slump in the price with the arrival of new stocks.

Price Trend

Chilli S4 stemless

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