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Chilli Update

posted Jul 17, 2011, 1:19 AM by NAVYUG Info

Chilli rose last week due to fresh buying by the traders and on rising demand from the domestic market. Hopes of pick up by the export enquiries also supported the uptrend.

As per last update, spot market prices traded near Rs 7800 per quintal and fresh arrivals were reported near 23000 bags compared with 35000 bags in the previous day. As per market sources, total stock in Guntur is expected around 47-48 lakh bags, out of this quality produce is expected around 30-35 lakh bags.

As per Andhra Pradesh government estimates as quoted in the media, the Chilli sowing shows a declining trend and major production belts received moderate rainfall. It is 17 percent less than previous year.