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The Clouds of Recession Hover on Red Chillies

Mintec Global
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According to the sources, the arrival of red chillies in Guntur has now started declining after touching its highest level. Due to the peak arrival of red chillies, the farmers limited the sale of this crop after the recession in the last few days.

Current Scenario

Significantly, the arrival of red chillies in Guntur mandi increased to a record level of 0.125 million bags. Due to weak buying by exporters and stockists compared to arrivals, there was also a decline of $12.09-30.23 per quintal in red chillies, according to the variety.

Like Guntur, there has been a slight decrease in the arrival of red chillies in the Warangal market of Telangana. About 11-12000 bags of red chillies were reported arriving in the Warangal market. Inward efforts and buying have been relatively weak.

Favorable weather conditions

As the weather conditions are favorable since the crop sowing, the production of this significant grocery is expected to be high. Further, the exporters’ activity has remained sluggish for the time being as the prices have remained relatively high even after the latest slowdown.

Exports of red chillies have been worst affected due to high prices in the domestic markets. According to the available data of the Spices Board, during the April-November period of the current financial year, 2.99.611 tonnes of red chillies have been exported from the country. In the previous year, its quantity of 3.94.366 tonnes was exported. These figures show that there has been a significant decline of 24 percent in the export of red chillies this time.

Traders believe it has remained higher even after the latest slowdown in arrivals. Therefore, there is still a possibility of a downturn in the domestic prices of red chillies in the coming times.

The chilli dried long red stemless prices were recorded at $2,90 per kg FOB.

Import/Export Statistics

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