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Indian Spices Market Report- July 2020

Chilies


Crop & Market Scenario

  • Harvest is now complete and a majority of the stock has been moved to cold storages
  • Guntur market re-opened on June 8th after lockdown
  • Total production is estimated to be approx. 25% better than last year, with low carry forward stock
  • Stocks at Guntur cold storage have increased by 30% over last year, with major stock belonging to growers
  • Demand is normal from both domestic and export markets and prices are firm for best qualities
  • SW monsoon has entered on time and growing regions are getting good showers
  • Land preparation activities have started across areas in Andhra, Telangana and Karnataka regions
  • The overall chili cropping area is expected to increase by 20% next season
  • Madhya Pradesh is expected to increase by 15% more than last year. The crop is at the vegetative stage
  • Sowings at Maharashtra are happening now and are expected to increase by 10-15% compared to last year

Near Term View

Prices are likely to be stable to weak

Major Varieties Price Trend - Guntur Market

Factors to Watch

  • Domestic and export demand
  • Quality stock availability at coldstores
  • Chinese demand

Turmeric


Crop & Market Scenario

  • Despite a delay caused by the covid-19 lockdown measures, harvest is now complete
  • Major markets opened in the 1st week of June
  • Arrivals increased across major markets
  • Prices were supported at lower levels due to renewed buying interest from both export & domestic segments
  • Prices moved up by almost 7 - 8% in the last couple days
  • Farmers are not showing much interest in releasing their stock at lower price levels
  • SW Monsoon has entered on time across growing regions
  • Sowing started at the end of May in Maharashtra and Telangana. It is about half way complete

Near Term View

  • Prices are supported at the current levels and are likely to continue

Cumin


Crop & Market Scenario

  • Production is up compared to last year
  • Market yards have started functioning and auctions are conducted on alternate days in key markets
  • Daily arrivals have been in the 2,000 - 2,500MT range and production is up compared to last year
  • Conventional cumin prices have been range bound in the last few weeks
  • Processing activities and port operations have picked up pace with the easing of lockdown restrictions across key origins

Coriander


Crop & Market Scenario

  • While carry in stocks are lower compared to last year, production is up
  • The overall supply is marginally down vs last year
  • Major market yards have started functioning and daily arrivals have been around 400 - 500MT
  • Prices were stable during the last few weeks due to good arrivals and weak domestic demand
  • Processing activities have picked up pace due to easing of lockdown restrictions across key origins

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