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Guntur: Price of premium red chilli varieties likely to rise
The price may touch Rs 24,000 per quintal
Guntur: Premium varieties of red chilli prices are likely to touch Rs 24,000 per quintal during this season, thanks to the unprecedented increase in the demand for red chillies in the domestic market.
According to red chilli traders at the Guntur Mirchi Yard, at present 341 variety of red chilli is being sold at Rs 21,500 per quintal.
Price of this variety likely to touch Rs 24,000 per quintal.
Similarly, 273 variety of red chilli selling at Rs 19,700 per quintal is expected to go up to Rs 23,000 per quintal. Similarly, 334 variety and No 5 varieties are selling at Rs 18,000 per quintal.
Prices of these varieties are expected to touch Rs 20,000 to 21,000 per quintal. At present, none of the variety of red chilli is available below Rs 15,400 per quintal in Guntur Mirchi Yard.
According to the sources in Guntur Mirchi Yard, falling of quality red chilli production is one of the main reasons for the increase of red chilli prices in the market.
The pest attack damaged 90 percent of the red chilli crop in the state, which led to falling quality red chilli production.
Generally, farmers will get more than 15 quintals per acre. Pest attack damaged red chilli crop. As a result, the farmers got three to five quintal quality red chilli yield per acre. When the quality of red chilli production had fallen, the demand for quality red chili increased in the open market.
The exporters are offering higher price and purchasing the red chilli at higher price to export to other countries to make a fast buck.
A farmer, P Sivaiah of Pidugurala, said, "I had invested Rs 1.4 lakh per acre and cultivated red chillis. Due to pest attack and untimely rains red chilli crop was damaged and I have suffered heavy losses. I got three to five quintals of quality red chilli per acre. I did not get back my investment though red chilli prices increased. Price hike benefited the traders."
T Bhaskara Reddy of the Agriculture marketing department said, "At present, there is no previous year red chilli stock in the cold storage units in the district.
Due to damage of red chilli crop caused by pest attack, quality red chilli production had fallen. When the production had fallen, demand for quality red chilli increased which led to increase of price.
I am expecting premium varieties of red chilli price likely to touch Rs 24,000 per quintal. At present there is no red chilli exports to China. If exports are resumed to China, demand will increase further."