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Andhra Pradesh: Mirchi Prices Plummet, Cold Storage Stocks Piling Up

Andhra Pradesh: Mirchi Prices Plummet, Cold Storage Stocks Piling Up

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The prices of mirchi have plummeted in the state. In May last year, the minimum rate for a quintal of mirchi was ₹9,000, while its maximum rate touched ₹26,500. The prices have come down this year, with the minimum per quintal rate being at ₹8,000 and the maximum per quintal rate at ₹20,700. Only high-quality Teja variety of mirchi is fetching a price of ₹19,500 per quintal. Prices for all other varieties have fallen significantly. Stocks of mirchi are piling up in cold storages as exports are not taking place.

At present, 7.5 million bags of mirchi are stored in cold storages. With the prices of mirchi continuing to fall, farmers who have grown the crop with a lot of difficulty in hopes of making a decent profit are disappointed. They are eagerly waiting for the exports to take off. The onset of monsoon season in the state is readying farmers to take up planting of new crops of mirchi. India exports mirchi to about 20 countries. Andhra Pradesh ranks first in mirchi production in the country. In the fiscal year 2022-23, mirchi worth a record ₹10,440 crores was exported. Attracted by the profits, farmers have been increasingly cultivating mirchi for the past two years.

Higher yields of mirchi in Karnataka have resulted in a shortage of adequate cold storages and traders are forced to store the extra mirchi in Andhra Pradesh. There are around 100 cold storages in Guntur. Over 3.21 lakh tons of mirchi are stored in these. Of this, 2.71 lakh tons are owed by farmers, and the balance 52,000 tons by traders. The cold storages in Palnadu and Bapatla districts store 7.5 million bags of mirchi, wherein each bag weighs 40 kgs. Much to the concern of farmers, the increasing production and subsequent slump in prices are a worrying bye product.

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