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Black Pepper News - Red Chilli buyers are inactive in the spot market may affect prices in coming days
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Red Chilli buyers are inactive in the spot market may affect prices in coming days

Red Chilli buyers reported inactive in the spot market at higher prices levels due to overflow of chilli cold storage stocks in AP, Telangana, Karnataka and exporters demand are slow in the spot market due to increased shipping costs.  Also recent corona virus lockdown in Bangladesh affect the sentiment. 
 
As per trade sources, around 65 – 68 lakh bags (1 bag = 40 kgs) new chilli stored at Guntur cold storage of total capacity 70 lakh bags. AP total around 85 – 90 lakh bags stored as of now.
 
Current year Chilli sowing likely to start from July first or second week in major growing regions like AP, Telangana etc and replanting will start from July last week or August first week till September. According to Agriwatch pre sowing expectation, as per current situation sowing area likely to go up by 30 – 40% as farmers are receiving higher prices compared to last year. As on 29th June 2021, Red Chilli 334 prices reported Rs.11,500 – 12,300/-qtl same period last year it was Rs.10,200 – 10,800/-qtl. 
 
Current year, total value of Chilli seed for sowing is around Rs.10 crore compared to last year Rs.6 crore as farmers are more interested for chilli sowing.