Mumbai, June 26 (CommoditiesControl): Chilli prices in major markets exhibited a trend ranging from stable to weak, reflecting current market trends influenced by adequate rainfall in chilli-growing regions and subdued export demand.
In Guntur and Khammam, prices held steady, while Warangal saw a decline. Buyer activity remained sluggish as favourable weather conditions in chilli-producing areas contributed to expectations of sustained acreage. Despite a significant decrease in prices, seed sales surpassed projections, potentially reducing acreage by about 10%.
Arrivals at Agricultural Commodities (AC) reached 100,000 bags, primarily sourced from cold storage facilities. Guntur reported 80,000 bags, marking an increase of 5,000 bags from the previous session, while Warangal saw 10,000 bags, down from 15,000 bags previously. Non-AC bag arrivals were estimated between 18,000 and 22,000 bags per market.
Market analysts anticipate prices to remain range-bound with a downward bias in the short term due to surplus supply. Cold storage facilities are operating at full capacity, indicating ample stock availability. Furthermore, export demand remains subdued, posing a constraint on potential price hikes in the near future.
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