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Indian Spices Market Report- Late July 2020

Chilies


Crop & Market Scenario

  • Buyers have begun to refrain from market participation due to the worsening Covid-19 situation, except for good quality varieties. Overall, we could experience weak to slow demand
  • Lack of sufficient labor in cold storages is also affecting market operations
  • Sluggish demand seen from export and domestic market segments, except from Bangladesh
  • Guntur stock is roughly 230K MT
  • Sowing across major growing regions has started and is likely to be completed by mid-August
  • Traditional areas of Karnataka have completed 60% of their planting area
  • Madhya Pradesh is at vegetative to flowering stage with increased acreage of about 15% compared to last year

Nursery planting activities

Near Term View

Prices are expected to soften between 5% - 10% for hybrids

Major Varieties Price Trend - Guntur Market

Factors to Watch

  • Demand from both domestic and export markets, considering the coming festive season
  • Weather conditions
  • Cash flow in the market

Turmeric


Crop & Market Scenario

  • Arrivals increased across major markets during the end of June, but have now slowed down due to worsening Covid-19 situations across major origins
  • We have seen aggressive buying from Bangladesh and the Middle East until the end of June, with demand slowing down the 1st week of July
  • Favorable weather conditions are supporting the sowing activities across origins in India
  • 75% of planting in Maharashtra and Telangana have been completed and 50 - 60% has been planted across Tamil Nadu and Andhra Pradesh

Near Term View

  • Prices are being supported at the current levels and are likely to continue for the near term

Factors to Watch

  • Monsoon progress and sowing status from July - August
  • Export and domestic demand

Cumin


Crop & Market Scenario

  • Production is up compared to last year
  • Market yards have started functioning with daily auctions
  • Daily arrivals dropped to 1000 - 1500MT due to rains and field preparation activities by farmers for Kharif crop
  • Rainfall is normal in key growing regions so far
  • Conventional prices have been stable in the last few weeks
  • EU compliant prices are firm, due to less availability

Coriander


Crop & Market Scenario

  • While carry in stocks are lower compared to last year, production is up
  • Daily arrivals dropped to 200 - 300MT in major markets due to rain and field preparation activities by farmers for Kharif crop
  • Rainfall is good so far in key growing regions
  • Prices have increased marginally due to a drop in arrivals
  • Eastern European crop is expected to be harvested in a few weeks

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