The Indian spices market is currently witnessing mixed trends, with price stability in certain spices and limited movement in others. The subdued demand and increased supply from new harvests are major influencing factors. This report highlights the latest updates for key spices in the market, including red chili, clove, small cardamom, black pepper, dry ginger, pistachio, cumin, and cashew.
Red Chili
- Price Trend: Stable at ₹17,000 per quintal for Red Chili 334.
- Market Movement: Recently experienced a price rise of ₹1,000, but demand remains sluggish.
- Supply Insights: Arrival of 25,000 new crop bags and 50,000 old crop bags in Guntur.
- Outlook: Likely to remain sluggish over the next 1-2 days.
Clove
- Price Trend: Steady at ₹840 per kg.
- Market Movement: Experienced a recent decline of ₹10-15 per kg.
- Market Sentiment: A weak Indian rupee is affecting sentiment.
- Outlook: No significant price rise expected in the near term.
Small Cardamom
- Price Trend: Increased to ₹3093.74 per kg in the latest auction, compared to ₹2866.59 on December 24.
- Market Movement: Strong stockist demand pushed prices higher; 7.5mm small cardamom rose to ₹3350 per kg.
- Supply Insights: Auction arrivals increased to 12,927 kg.
- Outlook: No signs of decline in the immediate future.
Black Pepper
- Price Trend: Stable at ₹650 per kg for Merkara variety.
- Market Movement: Recent price drop of ₹20 per kg.
- Supply Insights: Weekly market closures in Kochi; new crop arrivals impacting sentiment.
- Outlook: Unlikely to see a price rise in the short term.
Dry Ginger (Saunth)
- Price Trend: Stable at ₹28,000 per quintal for standard quality.
- Market Movement: Recent decline of ₹1,000 per quintal.
- Supply Insights: Weekly closure in Kochi; prices steady despite prior market activities.
- Outlook: No significant price increase expected in the near term.
Cumin (Jeera)
- Price Trend: Stable at ₹25,800 per quintal for standard quality.
- Market Movement: Recent increase of ₹200 per quintal.
- Supply Insights: Arrival of 8,000-10,000 bags in Unjha; new crop sowing nearing completion.
- Outlook: No signs of price decline in the short term.
Key Market Insights
- Demand Trends: Across most spices, demand remains subdued despite price corrections.
- Supply Conditions: Increased arrivals from new harvests are keeping prices stable.
- Global Factors: Exchange rate fluctuations (weak Indian rupee) are influencing market sentiment.
Conclusion
The Indian spices market reflects a cautious sentiment with limited price movement expected in the short term. While some commodities like small cardamom show upward trends, others remain stable or bearish. Participants should remain vigilant and adapt strategies accordingly.
Disclaimer: The above analysis is based on market trends as of the latest updates and is subject to change based on future market developments.The views expressed in this article are solely those of the author, who has spent over a decade analyzing the grains, spices and oilseeds markets. With a deep understanding of global agricultural market dynamics, the author offers insights based on extensive experience in trade analysis and market trends. While every effort has been made to ensure the accuracy of the information presented, the views shared are subjective and reflect the author’s perspective on the evolving spices market.