NEW DELHI – India’s chilli market slipped down due to covid-19 amid sluggish demand.
Chilli prices dampened in markets of producing states in India. The prices of chilli for S4 steamless were quoted at $2.085/tonnes on the previous day, down by $5 per tonnes. However, the prices came down for only a few varieties while other remains at same.
The key reason behind the sluggish trend in the chilli market is regaining worries for demand due to covid-19. Traders said that export demand reduced from Malaysia, Sri Lanka, Bangladesh and some parts of China as they imposed restrictions to contain the virus.
Trading activities are likely to hamper due to restrictions. The country’s southern states also extended the restrictions, which are also caused for the weak sentiments in the chilli market.
The arrivals in Guntur markets which is the hub of the chilli market surpassed 1.00.000 bags.