Spice market update: trade in India resumed
April 16, 2020 at 3:40 PM ,
Der AUDITOR
Cumin
After a break of several weeks caused by the coronavirus pandemic, exporters and producers in the food industry now have the opportunity to sell their stocks again. As a lot of cumin from the old crop is currently arriving at the markets, prices are declining, which is increasing demand. A large part of the incoming goods comes from Gujarat and Karnataka. Grade A cumin is currently trading at USD 1,875 per metric tonne.
Coriander seeds
Market players expect price increases in the near future due to high demand and limited supplies. The government of Rajasthan province is giving farmers the opportunity to sell their supplies again after 25 days. The coriander harvest in Gujarat and Rajasthan is almost complete and is expected to reach the markets in a timely manner. Coriander, Eagle, 5% split currently costs USD 760 per metric tonne.
Turmeric
Demand for turmeric has been high in recent days due to low prices, so prices have now risen slightly. Last season's stocks have been used up, so market players expect further price increases. Traders are currently interested in the new crop, which according to current estimates should turn out well. Turmeric, salem, double polished is currently quoted at USD 905 per metric tonne.
Chilli
Arrivals at the markets have increased, which caused prices to decline. However, much of the current supplies is still based on the old crop; with the arrival of the new crop, prices are likely to move further down. For producers and exporters, it was initially important that trade was resumed so that they would have the opportunity to sell their stocks. Chilli, S4, stemless is currently trading at USD 2,225 per metric tonne.
Black pepper
The pepper market has been relatively quiet in the last few days. In some regions there is a shortage of labour for upcoming harvesting works and market players estimate that the new crop will be much smaller than initially expected. Imports are also not taking place at present, so that price increases are to be expected in the coming days due to the low capacities. Currently the prices for black pepper, 500 gl are at USD 5,040 per metric tonne.
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