MTECHTIPS:Chilli futures expectation of improvement
Chilli futures may continue to rise due to expectation of improvement in domestic demand and export orders from Bangladesh and Sri Lanka. As per the Minister of State for Commerce & Industry, Government has approved establishment of a Spice park at Guntur, Andhra Pradesh at a cost of Rs.23 crores to empower the chilli farmers to have better price realization and wider markets for their produce. The Government of Andhra Pradesh had allocated 124.78 acres of land in favour of Spice Board, for setting up of this Spices Park. The installation of the plant & machinery for processing of Chilli is in progress and the target for completion of the project is December, 2012.