The prices of Indian red chili peppers are surging as the production output from the top Indian exporter is set to drop by a fifth from a year ago, hit by an invasive pest attack and damage from unseasonal rain in key southern producing states. Lower production has boosted prices by 80% in four months to a record high, and prices are likely to stay high throughout the year, forcing overseas buyers to shell out more at a time when the prices of fuel and other food ingredients are also soaring. Currently, the highest exportable variety of red Peppers ranges between USD 2.9-USD 3 per kg FOB Chennai.
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