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Red Chillies News - Red Chilli Market Sentiment and AgriWatch Expectation
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Red Chilli Market Sentiment and AgriWatch Expectation

Steady to firm sentiment witnessed in the Red Chilli spot markets during the past week. Red Chilli supply fell by 73.87% last week in the major spot markets as most of the days Guntur markets were closed due to summer vacation holiday. Last year same period markets were closed on Covid-19 lockdown. Cold storage stocks are reportedly lower at bench mark Guntur market during the current season. 
 
According to sources, the cold storage stocks are around 48 lakh bags (1 bag = 40 Kgs) and total stocks in Andhra Pradesh is around 66 lakh bags compared 78 lakh bags same period last year down by 15.38%. 
 
Farmers and stockists are expecting higher prices at Guntur spot market after summer vacation holiday reopen on 6th June as they were stored the best quality at cold storage. AgriWatch expects, Red Chilli prices likely to move up by INR 1,500 -2,000 per quintal after market reopen. Current year, due to unseasonal rainfall last year during November and December and virus attack quality of Chilli reportedly get damaged. So, there will be variation in prices quality wise.