Spices

India: Quality is becoming an increasing problem

February 17, 2017 at 11:20 AM , Der AUDITOR
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GUJARAT. The spice market certainly has a problem. Quality is an issue, which is gaining in importance.

The European Spice Association is primarily concerned with traceability and has called for common international quality standards and an information system that enables consumers to be able to trace where a product originates.

Cardamom
The decline in arrivals and high export demand caused the prices to increase this week. In addition, the weather forecasts for the decisive months February and March are anything but good. The high prices have started to deter end consumers. Cardamom, 8 mm is trading on a level of 21,750-21,950 USD/mt FOB.

Chick peas
Abundant supplies are currently pressurising the market. India succeed in increasing considerably production last year to 16.5 M mt. There are even requests for the commerce ministry to permit exports. This could help farmers to achieve better prices and ensure self-sufficiency.

Turmeric
The increase in arrivals has pressurised the market, which has in turn benefitted upcountry demand. Exporters are hoping for a similar effect in the overseas market. The buyers are, however, currently waiting for lower prices. Turmeric finger, Salme Double Polished is currently trading on a level of 1,290-1,322 USD/mt FOB.

Chili
Sowing is certainly gaining pace in Andhra Pradesh. An area of 38,473 ha has already been sown. Only 24,711 ha are sown in a normal season. The market also witnessed increased arrivals this week. It is therefore hardly surprising the prices have dropped slightly. The price level for chili, S4 stemless is 2,720-2,740 USD/mt FOB.

Coriander
Increased arrivals have caused prices to drop this week. But the situation is about to change since traders have purchased large quantities to fill up their stocks, which will have an impact on supplies in the coming days. Coriander, Eagle 5% Split is currently trading for 980-990 USD/mt FOB.

Cumin
The market witnessed relatively stable prices this week. Although the new crop has already become available in Gujarat, demand still has to pick up. Market participants reckon that this will happen mid-March or end-March. Cumin A Grade 99% is currently trading on a level of 2,783-2,790 USD/mt FOB.

Please find attached the price list.

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