Spices

Spice market update: traders prompted to sell large volumes of chilli

June 4, 2021 10:27 AM, 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

Cumin arrivals on the major mandis are steadily increasing and high supply pressure continues to push prices down. Overall, demand is sluggish due to the many coronavirus infections in India and restrictions remain in place in many major cities. This has cut buying by hotels and restaurants. Grade A cumin costs USD 2,060/mt FOB India this week.

Coriander seeds

The restrictions due to the coronavirus pandemic are also clearly reflected in the coriander market. Some mandis were closed for a full month, and some are even now opening only on a daily basis, meaning fewer deals can be struck. Weak buying interest is causing prices to fall slightly, but traders expect demand to pick up again soon. Farmers still have sufficient supplies and warehouses are well filled, so that strong price increases are not to be expected. Coriander, Eagle, 5% split is trading at USD 980/mt FOB India.

Turmeric

Traders are seeing a decline in demand for most turmeric varieties. This is primarily due to the pandemic-related measures across the country, which are weighing on the overall market sentiment. In the northern states, the restrictions have been eased, but as hotels and restaurants remain closed, there is hardly any buying going on. Market players expect demand to recover as soon as normality returns. The prices for turmeric, Salem, double polished currently range at USD 1,325/mt FOB India, which is USD 11/mt down on last week.

Chilli

The mixed trend in the chilli market continues. While price increases were recorded on the mandi in Warangal, prices in Guntur declined due to low quality. However, the general mood in the market remains positive as falling Covid infections in northern India may pave the way for normality. Demand is good, yet prices have generally fallen as some traders are selling large volumes and there is a more than adequate supply in the market. At USD 2,105/mt FOB India chilli, S4, stemless is trading around USD 50/mt lower than last week.

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