Spices Market Report

Cardamom (Large): Despite a price reduction, the demand for large cardamom remains sluggish. As a result, the price of large cardamom (Kanchicut) has remained stable at the previous level of 1850 INR per kilogram. Recently, it had dropped by 80 INR. In the most recent auction on January 9, the average auction price rose to 1575/1937 INR, which could affect market sentiment. There is no sign of a decline in the immediate future for large cardamom. Coriander: Even with reduced prices, the sale of coriander remains slow. As a result, coriander (Badami) has remained steady at the previous price level of 8900 INR per quintal. Recently, it experienced a drop of 200 INR. The arrival of about 300 bags of coriander in the Baran market of Rajasthan and the price staying at the previous level were reported. With fewer speculators purchasing, active futures fell by 38 INR or 0.50% to 7542 INR. The sowing of coriander has surpassed last season’s levels, which could influence market sentiment. In the next couple of days, no significant rise in coriander prices is expected. Fenugreek: Despite a price reduction, the demand for fenugreek remains sluggish. As a result, fenugreek has remained unchanged at the previous price level of 6900 INR per quintal. Recently, it had dropped by 200 INR. The arrival and prices in major markets in Rajasthan have remained at the same levels. This could influence market sentiment. No long-term price surge is anticipated for fenugreek in the next few days. Turmeric: There has been a slight improvement in turmeric sales at reduced prices. Consequently, turmeric (Erode Gattah) has increased by 100 INR to 14,700 INR per quintal. Recently, there was a decrease of 200 INR. Due to Pongal celebrations, the Erode market is closed, but it is expected to reopen on Monday. Speculators buying activity has increased, causing active futures to rise by 88 INR or 0.61% to 14,610 INR. This could influence market sentiment. However, a long-term price increase in turmeric is not expected in the coming days. Cumin: Despite a price reduction, the demand for cumin remains slow. As a result, the price of cumin has remained unchanged at 25,100 INR per quintal. Recently, it had decreased by 200 INR. The arrival in Unjha has decreased to about 6-7 thousand bags, with prices holding steady at the previous level. Speculators purchasing activity has slowed, causing active futures to soften by 15 INR or 0.07% to 23,040 INR. There is no expectation of a price increase for cumin in the next couple of days.

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