Mumbai, April 26 (Commoditiescontrol): Chilly prices in major markets displayed a mixed trend, with Teja and Teja deluxe varieties witnessing price increases, while 341 and DD varieties experienced declines. Prices surged by Rs 500-2,000 per quintal in Guntur and Warangal markets for Teja and Teja deluxe varieties. Despite the rise, demand remains robust at lower price levels, given that prices are currently quoting at multi-year lows.
Arrivals at the Guntur markets totaled 55,000 bags, marking a decrease of 3,000 bags from the previous session. Similarly, arrivals in Warangal stood at 20,000 bags, down by 15,000 bags compared to the previous session. Khammam reported 10,000 bags today.
Domestic demand remains hand-to-mouth, while export demand shows no signs of significant improvement, thus restraining prices. However, the substantial drop in prices from multi-year lows is anticipated to maintain prices stable or firm in the upcoming sessions.
Meanwhile, the Department of Commerce released the export data for February, indicating that chilly exports were reported at 67,998 MT, marking a decrease of 9.4%. This decline was primarily driven by lower exports to Bangladesh, Thailand, and Sri Lanka.
Exports to Bangladesh recorded a notable decline of 24%, amounting to 6,953 MT. However, cumulative exports from April to February were reported at 3.93 lakh tons, marking a 2.8% increase year-on-year.
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