Expect Chilli fut to rise in domestic market: Fortune Fin

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Fortune Financial Services’ fundamental outlook on Chilli

In the domestic market, chilli futures are expected to rise as stocks could get depleted due to strong exports. The current uptrend may last until mid-December, after that the second pickings of the Madhya Pradesh crop will hit the markets which might lead to drop in prices This year’s crop in Andhra Pradesh, on the other hand, is shaping up well with the acreage almost unchanged at around two lakh hectares. At least 80 per cent of the crop in Andhra Pradesh is in a good shape. If weather holds good, production will improve. The second picking in Madhya Pradesh is expected to be good only if the weather condition doesn’t worsen. In Andhra Pradesh, new crop arrival is likely to hit the spot market after January

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Source: moneycontrol.com

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