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The Domestic and Export Market Intelligence Cell (DEMIC) sources at the Farm Varsity here has advised farmers to hold on to red chilli stocks for a month or so and sell towards end May-June to take advantage of better price.
The harvest is said to have just begun in Tamil Nadu and according to sources, the price could touch Rs 100/kg due to decreased arrivals as compared to last year. The daily arrival is said to have peaked to 10,000- 12,000 bags last year against 1,000-2,000 bags now.
Reports show that April 2011 futures price for chilli stood at Rs 8,514/quintal. The prices seemed to have risen steadily from Rs 5,260/quintal in August 2010 on expectations of lower acreage under the crop for want of labour, rainfall during fruit setting and less production.
The major markets for chilli are Virudhunagar, Ramanad, Paramakudi and Thoothukudi and major varieties – Virudhunagar Samba (Sannam) and Ramnad Mundu (Gundu).
In 2008-09, chilli was grown in 65,412 hectares in the State, producing 32,924 tonnes of red/dry chillies.
DEMIC sources expect the price to rule between Rs 77-91 per kg in the April-June period and recommend farmers to store chilli until May-June.
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