Market Report – April 2021
Crop & Market Scenario
- Partial lockdowns in India due to surge of Covid 19, have caused a reduction in demand.
- Domestic demand is continuing as normal.
- Stocks in major markets are active and do cover all principle varieties, anticipating good prices during the off season.
- Quality of materials have declined across the markets.
- 70% of Chillies have been harvested. The remaining quantities should be harvested in all growing regions by Mid May 2021.
- Traditional crop at Karnataka is over by 90% and Tamil Nadu crop yields are expected to come down to 50% of normal production.
Major Factors Effecting Price
- Demand from both domestic and export markets.
- Quality Available
- Stockists Activity
Near Term View
- Prices are expected to firm up in the near term.
Crop & Market Scenario
- New crops have started to arrive, especially in Maharashtra and Tamil Nadu.
- Covid-19 partial lockdowns has affected crop arrival in speed and demand.
- Prices have corrected and are down 5% vs last month, due to fresh crop arrivals & subdued demands due to higher prices.
- Processors and exporters who were waiting to cover their annual demand have started purchasing.
- A significant price correction is unlikely, due to production shortages and limited stock availability.
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