Chilli futures traded down amid reports of sluggish demand and higher crop estimations. Weak price trends in the spot market also weighed on chilli prices. As of Wednesday chilli arrivals in Guntur were around 35000 bags against 40000 bags on previous day. The arrivals include around 5000 bags of the 334-variety.
The spot price for 334-varitey chilli was quoted at Rs.5200 ($105.25, €79.92, £66.95) per 100kg. The prices are likely to move down when fresh arrivals gain pace in February-April, until then the prices are expected to trade steady. Likely rise in export demand in the coming months may also add support to the prices to trade higher.