Excess production sulk chilli prices up to 60 %

India Infoline News Service | Mumbai | April 21, 2017 16:16 IST

Record chilli production has pushed the prices to slide to its lowest in over a decade, prompting Andhra Pradesh government to announce price support scheme.

Record chilli production has pushed the prices to slide to its lowest in over a decade, prompting Andhra Pradesh government to announce price support scheme.
 
High output and low prices may activate higher exports this season.
 
Andhra Government has announced a price support scheme of Rs 15 per kg to farmers w.e.f. from Thursday till June end as prices crash with cold storages overflowing. The farmers will get it for a maximum of 20 quintals (2000 kg’s).
 
Chilli prices witnessed a crash by 60% from a year earlier and are around Rs 35-55 kg.
 
Venkat Rosaiah, President, Guntur Chili Commission said – “The price support scheme may not be of much use to growers as over 70% of them have already sold their produce”
 
Welcoming the step, major bulk buyers like curry masala company Eastern Condiments who purchase around 20,000 tonnes yearly. 

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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