Mumbai, April 25 (Commoditiescontrol): Chilli prices in major markets continue to show upward trend, influenced by robust demand at reduced price levels. Additionally, lower arrivals have lent further support to prices across major markets. Local sources attribute this surge to spot market prices reaching multi-year lows, which have effectively bolstered them.
Notably, Khammam market remained closed today, adding to the market dynamics. Arrivals at the Guntur markets totaled 58,000 bags, representing a decrease of 2,000 bags from the previous session. Meanwhile, Warangal reported arrivals of 35,000 bags, maintaining parity with the previous session's figures.
Despite domestic demand operating on a hand-to-mouth basis and stagnant export demand, prices remain under pressure. However, the significant rebound from multi-year lows is expected to provide a stabilizing or firming effect on prices in the upcoming sessions.
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