Indian Spices Market Report- August 2020

• 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

Acreage is likely to increase compared to previous seasons

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

• 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

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

• 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

• 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