Mumbai, May 3 (CommoditiesControl): Chilli prices in major markets experienced a downturn after trading within a narrow range for several sessions. Prices in key markets such as Guntur and Warangal witnessed declines ranging from Rs 500 to Rs 2,000 per quintal, attributed to a lack of buyer interest despite lower arrivals.
Both export and domestic demand were reported to be weak, exerting downward pressure on prices during today's trading session.
Arrivals at the Guntur markets were reported at 65,000 bags, marking a significant decrease of 35,000 bags compared to the previous session.
Similarly, Warangal reported a decline in arrivals, with 15,000 bags arriving today. Khammam market remained closed due to alternative opening arrangements.
The weakness in domestic demand, coupled with muted export demand, has contributed to the decline in prices. However, market observers anticipate that prices may find support in the upcoming sessions, as they are currently trading at multi-year lows.
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