The peak prices have dropped by over 12% to Rs 140 per kg with demand drying up. KOCHI: Red chilli prices may not flare up after the lockdown with increase in demand as there is sufficient stock in cold storages in Andhra Pradesh and Telangana, the chief producers of the spice. The harvest in both the states is almost over and most of the stock has gone to cold storages in the absence of trading. Other than small quantities going for export, there has been hardly any local demand in the last one month.
“The production is almost same as last year and almost 95% have gone to cold storages which are getting packed to the full,” said Ravipati Peraiah, MD of Vijayakrishna Spice Farms.
The peak prices have dropped by over 12% to Rs 140 per kg with demand drying up. Last December chilli rose to Rs 215 per kg on severe shortage.
(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)
Source: indiatimes.com
