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Indian Spices Market Report- March 2021

Chilli


Crop & Market Scenario

  • Stockiest activity can be seen for all major varieties, anticipating the price uptrend during the off-season
  • Most farmers are interested in selling at these levels, causing the crop to enter cold stores slowly. Current stock at Guntur is estimated to be 0.1 Million MT
  • Markets are trading firm and the demand from export markets has picked up, mainly from Bangladesh and China
  • Domestic grinders have begun to cover their annual requirements with chilli from other origins
  • Harvest has begun and good quality material is expected to be available up to the 2nd week of April. Nearly 25 - 30% of the total available crop has already been sold
  • Traditional Byadagi harvest will be mostly finished by the end of March 2021
  • High color KDL and Dabbi prices have continued to trade at high levels
  • Unseasonal rains, a high incidence of wilt disease and infestation have impacted yields, which is a concern
  • Tamil Nadu has been experiencing untimely rains, which has damaged 25 - 40% of the crop
  • MP and Maharashtra crop have almost been completed. The total production is lower than anticipated

Near Term View

Prices are expected to soften slightly in the next fortnight considering the expected arrivals but should firm up quickly.


Major Varieties Price Trend - Guntur Market

Factors to Watch

  • Material flow into the major markets
  • Domestic demand and demand from China
  • Stockiest activity

Turmeric


Crop & Market Scenario

  • Turmeric prices have increased by less than 35% in last 3 months, compared to the same time last year
  • Last month’s arrivals have been confined mainly to the Nizamabad and Sangli markets
    Major markets across Maharashtra, AP and TN are expecting the peak arrivals by the end of March
  • Markets have witnessed favorable demand from the domestic segment in the last couple of days
  • A downward price correction is unlikely this year, due to production shortages and an overall tight stock situation
  • We could see good buying interest on any price dips

Standing crop in Erode, Tamil Nadu, ready for leaf cutting

Near Term View

  • Prices are likely to be steady until the end of March. Expected crop delays may support the current pricing

Cumin


Crop & Market Scenario

  • Harvest has wrapped up in Gujarat and the crop has begun arriving in market yards
  • Rajasthan crop harvest is in progress. Expect arrivals from the end of March, onwards
  • CY21 output is down compared to last year, due to marginally lower acreage and a drop in yield
  • Conventional prices increased by 5 - 10% in the last few weeks due to a decrease in arrivals and strong demand
  • EU pesticide compliant harvest is progressing. Expect crop to be available from the end of April, onwards

Coriander


Crop & Market Scenario

  • Carry out stock this year is less than the last three years
  • The CY21 coriander output is similar to last year
  • Prices moved up by 10-15% during the last few weeks, due to strong domestic demand for new crop
  • Prices are expected to remain firm

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