Chilli growers in north Karnataka, especially those in Byadagi region, have been asked to hold back their produce until December and sell thereafter to get better prices.
“Farmers of Byadagi areas are busy in preparing their lands for sowing of chilli. The Domestic and Export Market Intelligence Cell (Demic), as a caution to farmers, has come out with price forecast for chilli valid till February 2014,” Dr Balachandra K. Naik, Head of Demic, told Business Line.
“The latest price forecast is likely to help them during harvest and also help them decide to go for chilli sowing this year,” he added.
price forecast
In Byadagi chilli market, prices are likely to be around Rs 5,900-6,880 during December to February .
Chilli is cultivated exclusively for commercial market, with a little proportion of it retained for domestic consumption.
For price forecast, we have studied 20 years monthly price data of dry chillies from Byadagi regulated market has been collected and was analysed by employing rigorous statistical time series model.
“Prices in other major markets for chilli, demand from manufactures of ready-to-use masala, sambar powders and Government policies were taken into consideration,” Naik said.
Onion
Demic said that onion prices will rule around Rs 800-1,000 a quintal during harvest in Belgaum market.
The prices of kharif onion would rule at Rs 900-1,000 during August and Rs 800-900 during September.
Naik said “Since the crop experiences high level of volatile prices due to various factors, we have come up with an indicative price to help farmers take better sowing decision and to save them from distress sale.”
Groundnut
The prices of groundnut for Raichur market is expected to range between Rs 4,100 and Rs 4,300 during August and Rs 3,800-4,200 during September.