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Indian Spices Market Report- August 2020

Chillies


Crop & Market Scenario

  • Chilli prices across markets remain firm due to increased demand from both domestic & export markets
  • There is an increased interest from Asia compared to June/July, considering low stocks in pipeline and expected festive demand
  • Good quality material availability is still low, due to the lack of labor at cold stores
  • Chili planting is at its peak and is about 30 - 40% finished in major growing regions
  • Transplanting from nursery beds is expected to start from August 20th onwards
  • All major chili growing states of Andhra, Telangana, Karnataka, Maharashtra, Madhya Pradesh and Tamil Nadu are receiving normal to excess rainfall
  • Planting in the Byadagi area is 80% complete. The crop is being monitored for heavy rains
  • Chili acreage is expected to increase between 15 to 20% across India
  • Madhya Pradesh and Maharashtra crop are at vegetative to peak vegetative stage. The crop is progressing nicely

Near Term View

Acreage is likely to increase compared to previous seasons

Major Varieties Price Trend - Guntur Market

Factors to Watch

  • Domestic and export demand
  • Quality stock availability
  • Weather factors

Turmeric


Crop & Market Scenario

  • Major turmeric markets remain closed due to Covid-19 lockdown measures
  • Arrivals are coming down on low farmer participations due to unattractive price levels
  • 95% of the planting has been completed across India and will be wrapped up in 15 - 20 days. Better climatic conditions are supporting the sowing activities
  • There has been good demand from both export and domestic segments for better quality stock
  • Downside price correction from the current levels seems to be limited

Near Term View

  • Prices are likely to remain stable for the near term. It will be best to cover at current levels to avoid any dips

Cumin


Crop & Market Scenario

  • Unjha market yard has reopened after a lockdown for two weeks due to a spike in Covid-19 cases
  • Daily arrivals dropped to 500 - 1000MT due to rains and end of the peak season
  • Despite several key growing regions receiving favorable rainfall, monsoon progress should still be monitored
  • Market is at a multi-year low & there is limited downside
  • EU pesticide compliant cumin availability is limited

Coriander


Crop & Market Scenario

  • Market yards have started functioning. Daily arrivals are down due to rains and end of the peak season
  • Indian coriander premium grade availability is limited
  • Rainfall recorded in some of the key growing regions has been below normal. Progress needs to be watched for next year’s sowing prospects
  • East European coriander prices have softened as new crop harvest has started coming into market
  • Prices are expected to remain firm

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