India: Chili prices go half as new crop arrives in the market

With locally grown crops returning to the market, the price of green chili has begun to fall in Chandigarh, providing much-needed relief to the consumers. After reaching a two-year high of Rs. 160 in the first week of March, the price of the staple vegetable has decreased to Rs 70 per kg presently, a decrease of nearly 56 percent. Other vegetables have seen a drop in price in recent days as well. According to mandi officials, another increase in their fees is expected in the following two weeks as a result of the hike in fuel prices. "Green chili had grown more expensive as the local supply and even that from far-off places like West Bengal and Gujarat had slowed down," said Harpreet Singh, a mandi supervisor with the Punjab Mandi Board. However, the locally sown produce has begun to arrive. As a result, green chili will become more affordable once more." Green chill prices had dropped to Rs 140 per kg on March 5 after reaching a high of Rs 160 per kg on March 2. Chilli and Cotton ...