Mumbai, July 5 (CommoditiesControl): Chilly prices in major markets remained stable to weak today, with Khammam and Warangal markets closed due to Amavasya. Increased rainfall activity over chilly-growing regions is expected to facilitate sowing activity, despite an anticipated 10% reduction in acreage from last year's record high.
In today's market activity, chilly prices for varieties such as Teja and Teja Deluxe remained stable. The overall market saw a decrease in arrivals, totaling 65,000 bags, down by 23,000 bags as only the Guntur market was operational today. Guntur reported arrivals of 65,000 bags, a decrease of 15,000 bags from the previous session.
Market analysts predict that chilly prices are expected to hold steady, with a short-term downward bias due to the excess supply. Additionally, low export demand is expected to limit any potential price increases in the near term.