New Delhi, 11 May (NNS): The prices of red chilli reported to be sluggish due to the weak offtake. There was weekly off in Guntur mandi. Recently, the prices dropped down by Rs 500 per quintal, due to this reason, here, the prices of red chilli 334 no. remained stable at Rs22500/24500 per quintal. The Guntur mandi will likely to be close for one month from today, due to this, the market sentiments will likely to be weak. The production of red chilli reported to be high during the current season, due to this, the arrivals of red chilli seems weak in the famous markets like Guntur and Warangal. The export of red chilli gets affected amid weak demand from the famous importer countries like China, Bangladesh and Malaysia. The arrivals of stock reported to be high so that the cold storages are running shortage of space, due to this, the farmers are rapidly selling out their stock. There is no possibility of more uptrend in the prices during the near future.