Spices

Spice market update: new tax on coriander seeds

May 7, 2020 3:42 PM, Der AUDITOR
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GUJARAT. Weekly monitoring with the latest market information from India on cumin, coriander and turmeric, chilli, black pepper and cardamom as well as a price list for more than 70 products.

Cumin

Arrivals have risen sharply within the last week, as a large quantity of cumin from the main cultivation area of Rajasthan is now available. Due to the extended lockdown in India, trading has slowed but is still taking place. Prices are 10-15% below last year's level due to the drop in demand caused by market uncertainties and the two-week trading interruption in April due to the coronavirus. On a weekly basis, however, prices rose by USD 40 per metric tonne, with grade A cumin currently trading at USD 1,910 per metric tonne.

Coriander seeds

The Rajasthan government has imposed a 2% tax on trade in various agricultural products, including coriander, and local markets are largely closed. Demand remains stable, especially from stockists, so that there have been slight price increases. Coriander, Eagle, 5% split is currently trading at USD 775 per metric tonne. Market players do not expect prices to decline in the coming days.

Turmeric

Market players are worried, as the lockdown, which has now been extended for the third time and is valid until the end of May, has reduced demand. This is also pushing down turmeric prices, and traders do not expect this to improve in the near future. Turmeric, salem, double polished currently costs USD 880 per metric tonne.

Black pepper

An increase in arrivals and good demand ensure that pepper prices remain stable at a high level. Since the smuggling of pepper into India, especially from Sri Lanka, has been stopped, the demand for domestic products has improved significantly. Domestic demand is particularly high in northern India. Black pepper, 500 GL is currently traded at USD 5,010 per metric tonne.

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