I was interested to read in the press that chillies are trading at an all time high. This article describes how the this years poor crop due to flooding and bad weather across India, Bangladesh as well as flooding in Pakistan and China has cause a poor quality crop and lower yields. As a result of last years stocks running low, the price of chilli futures has been soaring.
In fact I read elsewhere that a new Indian variety of chilli called ‘Badiga’ was sold for Rs10,300 a quintal, the highest price ever recorded at Asia’s largest chilli market in India.
Rising commodity prices and increased inflation of food prices are rarely out of the news at the minute. Rising demand and a lack of supply are the two main factors driving up chilli prices.
With Interest Rates at an all time low here in the UK, maybe buying chilli futures is not such a bad idea?!