The Cyclone Michaung Conspiracy in the Chilli Market

Introduction:

The recent Cyclone Michaung has stirred speculation within the market, and middlemen trying to seize the opportunity to manipulate prices.

For buyers and importers, it's crucial to be aware of the situation. If you've heard rumours about price increases or delay in arrival of new crop, it's essential to read this entire article.

Market Manipulation:

Contrary to some claims about a one-month delay in new crop arrivals or a 15-20 percent crop loss due to the cyclone, the reality is far from such predictions.

few month ago, middlemen manipulated market prices, leading to some stockists storing significant quantities in cold storage facilities. Additionally, certain companies, also influenced by these middlemen, accumulated substantial stocks at higher rates. Now, these companies are releasing the same stocks at lower prices in anticipation of the upcoming new crop.

Current Market Dynamics:

As the time for new arrivals approaches, old stocks lose their market demand, resulting in a significant drop in their prices. Some middlemen aim to keep the market inflated by spreading misinformation.

Advice for Stakeholders:

Farmers, exporters, and domestic buyers should be aware of such manipulative tactics used by few middlemen with evil intention. Staying informed and making decisions based on accurate information is crucial.

Positive News for Importers and Domestic Buyers:

1. Despite concerns, the post-cyclone harvest is expected to begin arriving in the Guntur market from the first week of January. While there might be a slight dip in quality, there is no significant delay.

2. The market has already witnessed over 25,000 bags arriving on December 11th, and this number is anticipated to multiply two to three times in January.

3. Karnataka is also experiencing a steady influx, with over 40,000 bags already in the market.

4. New crops have already started arriving in Gondal and Nagpur market.

5. Uttar Pradesh's arrival is expected by the end of the Guntur season.

6. By May and June, Punjab will witness new arrivals.

Future Considerations:

Despite the positive outlook, it's essential to acknowledge the uncertainty in weather patterns, particularly due to the impact of El Niño. Buyers should carefully plan their purchases, considering possible changes in the weather.

Connect for Assistance:

If you are seeking assistance in purchasing high-quality red chillies at competitive prices, feel free to connect with me.

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