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Indian Spices Market Report - July 2021

Chilli


Crop & Market Scenario

  • Major markets reopened after lockdown, bringing good arrivals across markets
  • Thailand, Malaysia, China and Bangladesh markets experienced reduced export and domestic demand
  • Guntur’s cold store stock is expected to be around 0.24 million metric tons. Total stocks across trading centers are expected to be around 0.80 million metric tons
  • Most of farmers’ non-cold store stock chilli is sold out
  • The upcoming festival season is expected to increase domestic demand
  • With the start of monsoon season, agricultural operations began across regions. Chilli sowing is expected to start soon
  • Chilli growing regions received moderate rains, except in Karnataka
  • Chilli acreage increased by at least 25% to 30% for 2021-22, indicating the potential for a bumper crop

Near Term View

  • Price levels are expected to be steady in the short run

Major Varieties Price Trend - Guntur Market

Factors to Watch

  • Demand from domestic and export markets
  • Covid spread
  • Monsoon progress

Turmeric


Crop & Market Scenario

  • Arrivals improved after lockdown restrictions were relaxed across origin markets
  • Prices have dipped slightly due to sluggish domestic demand. Average export demand remains the same
  • Sowing activities are in full swing across most growing areas. In Maharashtra, Telangana and Karnataka, sowing is 85% complete and 30% complete in Tamil Nadu. In Andhra Pradesh, sowing has just begun. Sowing is likely to finish by the end July or early August
  • Prices settled with news of better sowing
  • Domestic demand is likely to improve by August as destination markets recover from the COVID-19 situation

Near Term View

  • Prioritize covering the near term demand at current levels to cover dips in receiving quality supply
  • Watch monsoon progress, sowing, and demand for domestic markets

Cumin


Crop & Market Scenario

  • Daily arrivals in the Unjha market yard were between 500-550 metric tons
  • Prices remained stable due to a balance between weak domestic and export demand
  • The supply situation improved as restrictions eased and the second wave of Covid infections decreased
  • Domestic demand is expected to improve with easing restrictions
  • The availability of EU-compliant cumin is very limited
  • Conventional prices are expected to remain stable
  • EU-compliant cumin prices are expected to remain firm

Coriander


Crop & Market Scenario

  • The current crop output is similar to last year’s
  • Prices remained stable due to weak domestic demand
  • Domestic demand is expected to improve with easing COVID-19 restrictions

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