Red Chilli prices likely to correct in the spot market from higher levels
Published on: Nov 02 2021, 12:00
Buyers are inactive at current higher prices due to overflow of chilli cold storage stocks in AP, Telangana, Karnataka and expectations of increase in sowing area.
Agriwatch expects, Red Chilli prices likely to correct from higher levels after Diwali festival. We suggest stockists should offload their stocks in a phase wise manner in coming days.
Red Chilli new crop supply likely to start at Guntur market from January onwards. As per current situation, Agriwatch expects bumper Red Chilli crop in coming marketing year. Agriwatch first advance estimates, Red Chilli all India production for 2022 is estimated at 15.93 lakh MT. Last year’s production was 13.84 lakh MT, up by 15.10% from last year.