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Indian Spices Market Report- July 2019

Chilies


Crop & Market Scenario

  • Prices across markets show an uptrend for premium qualities, mainly due to export and domestic demand
  • Lesser quality stock availability and delayed monsoon have firmed up prices
  • Quality stock availability has decreased across trading centers and demand from China has been increasing aggressively
  • Deficit rainfall coupled with high day temperatures have impacted sowing across major growing regions
  • Due to the lack of rainfall, sowings are at 20% of normal levels in Karnataka.
  • Recent rains have helped to kick start sowing
  • Madhya Pradesh crop sowing is expected to be completed in a couple of days with the crop in a vegetative stage

Factors to Watch

  • Export and domestic demand
  • Stock position at consumption centers
  • South West monsoon progression across growing areas

Near Term View

  • Prices are likely to remain steady, depending on the progression of monsoon season in the medium to long term

Seed Sowing in Mainfield

Best-Quality Price Levels

Land Preparation

Turmeric


Crop & Market Scenario:

  • Arrivals are coming down across markets
  • We have seen a downward correction of 7-8% during June as a result of better arrivals, progress of the southwest Monsoon across some of the growing regions, and sluggish domestic demand at higher price levels
  • However prices are being supported at current levels
  • Most of the growing regions started getting rain fall in last couple of days and overall 45% sowing is almost over

Factors to Watch:

  • Sowing progression across all origins
  • Stockist buying from July to August
  • Domestic and export demand

Near Term View

  • Prices are likely to increase or remain steady.
  • Better to cover the near medium term requirements at current levels for high-quality stock

Tumeric Field in Tamil Nadu

Cumin


Crop & Market Scenario:

  • Daily average arrivals during June’19 in Unjha were approximately 450MT
  • Cumin prices were range bound during June’19 as a result of weak demand

Factors to Watch:

  • Export demand was weak due to import clearance issues and rejection of few consignments in one of the key export markets for Indian cumin.

Coriander


Crop & Market Scenario:

  • Average daily arrivals reported during June’19 were 100- 150MT/day at major mandis
  • Coriander prices were stable due to weak demand
  • Overall production has decreased by 15-20% over last year

Factors to Watch:

  • Crop outlook of East European origin and imports into India.
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