Moreover, good quality chilli (the tradable one) is just a little more than half of the entire arrival. Demand from Pakistan, in particular, is rising. Bangladesh and Indonesia are the other importing countries. Commodity analysts had put the resistance at Rs 5,100-5,200 a quintal.
However, they have raised it to Rs 5,400. Arrivals are expected to be stable next week but demand will continue to be firm. In the physical markets, prices of the tradable quality hovered around Rs 4,600-4,800 a quintal level.
The chilli market has taken a complete turnaround since the rains in Andhra Pradesh (the main chilli growing state) damaged the crop and stoked bullish sentiments in the market.
On the National Commodity and Derivatives Exchange, the June contract closed the week at Rs 5,191 a quintal as against the previous week
