Spice market update: cumin is of high quality
May 14, 2020 at 4:19 PM ,
Der AUDITOR
Cumin
The mood on the cumin market remains good. Although arrivals at the markets have increased, prices have remained stable due to the high quality of the goods, and even showed slight increases. However, market players expect prices to decline in the coming days, as many traders have now stocked up on goods and demand is expected to fall. Grade A cumin is trading at USD 1,955 per metric tonne this week.
Coriander seeds
The prices for coriander seeds are currently at a relatively high level, which ensures satisfied traders and a good mood on the market. Due to the 2% trade tax on coriander introduced last week, there has been little sales in some local markets in Rajasthan this week. Contrary to this, there is strong demand from stockists. Coriander, Eagle, 5% split currently costs USD 805 per metric tonne.
Turmeric
Arrivals are currently high, but only about 50% of the goods are actually sold. However, traders expect the market to return to normal soon. As long as prices remain at a low level or even continue to fall, many producers decide to store their goods for the time being and wait for prices to rise. Currently the prices for turmeric, salem, double polished are at USD 875 per metric tonne.
Chilli
The chili market is rather quiet at the moment. There are enough goods for sale, last week the arrivals from Andhra Pradesh amounted to over 130 metric tonnes. Market players expect the amount of available goods to increase further next month. At the same time, demand is relatively weak, so prices are declining. Prices for chili, S4, stemless are at USD 2,150 per metric tonne, which is USD 75 per metric tonne below last week's price.
Cardamom
Market players expect cardamom exports to Saudi Arabia during the peak of Ramadan to revive the Indian cardamom market. On the spot market, however, demand is still rather weak. Meanwhile, the markets are receiving further supplies that were stored during the lockdown. Cardamom, 8 mm, is at USD 45,895 per metric tonne this week, which corresponds to a price reduction of USD 1,615 per metric tonne compared to last week.
Black pepper
The farmers are currently trying to sell as many of their supplies as possible, as many of them are struggling with financial problems. The pepper market is in a difficult situation; on the one hand, buyers are hesitant because prices are too high in their eyes, on the other hand, producers do not want to sell their goods below value. There is a good demand from the spice powder manufacturers. The prices for black pepper, 500 GL, are currently at USD 4,860 per metric tonne.
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