Receding stocks pf chilli in spot market coupled with decline in sowing acreage in Andhra Pradesh during the current season added some buoyancy in all the major mandies.As per market sources, the total stock position of chilli in Guntur mandi of Andhra Pradesh was at around 17-18 lakh bags against 20-21 lakh bags reported last year in the same period . And from the total availability, around 20-25% stock is useful for processors.
Lower stocks position was also reported in M.P ( Madhya Pradesh ) as the total output of chilli in M..P was at 28 lakh bags against average ouput of 32-33 lakh bags.Moreover, decline of around 15-20% in sowing acreage has been reported in Guntur and Warangal districts of Andhra Pradesh .
Therefore, the spot prices of Teja quality and 334 quality have been spurted by almost Rs 200-300 per quintal, quoted at Rs 6800-7500 and 5200-5500 per quintal at Guntur mandi.
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