Spice market update: pepper harvest comes to standstill
April 29, 2020 at 4:35 PM ,
Der AUDITOR
Cumin
The new crop is gradually available on the markets. At present, however, large quantities of the old crop are still being sold, which were held back in the warehouses for a long time by the traders in the hope of rising prices. After prices had declined, demand increased, but with the start of the new season and the large quantity of available goods, a slight recession can currently be observed. Prices for grade A cumin are holding steady at a level of USD 1,870 per metric tonne.
Coriander seeds
Compared to last week, coriander prices have remained stable without significant fluctuations. The demand remains satisfactory for the traders. Rainfall initially worried producers, but weather conditions have now improved. Market players report good quality of the goods. Coriander, Eagle, 5% split is currently trading at USD 755 per metric tonne.
Turmeric
Although there are still plenty of supplies from the old crop, traders are focusing their attention on the new crop, and farmers are not happy about this. Market players report that many producers are therefore still holding back on the new supplies. Domestic demand in India is also rather weak, which is causing prices to fall slightly. Turmeric, salem, double polished currently costs USD 885 per meric tonne and is thus USD 10 per metric tonne below last week's price.
Chilli
The largest amount of chilli (56 mt) comes from the province of Gujarat this week. Current prices are not available as the reference market in Guntur is closed; it is located in the so-called "red zone". The government of Andhra Pradesh has decided to suspend trading there during the lockdown. With Khammam, another important trading place for chilli is also closed.
Cardamom
Demand for Indian cardamom is high in the Gulf States because of Ramadan. The quality is better than, for example, goods from Guatemala and prices are also more competitive. Only in Saudi Arabia, the import of Indian goods is currently banned due to pesticide contamination, but market players report that this could soon change. India is currently still struggling with some export difficulties due to the corona pandemic. Prices for cardamom, 8 mm are stable this week and range at USD 47,510 per metric tonne.
Black pepper
Due to the lack of workers and employees the harvest on the pepper plantations has come to a standstill. About 20% of the pepper still has to be harvested. The amount of rainfall in the coming days will determine the quality of the rest of the crop and whether it will eventually become overripe or dry out. Compared to last week, no price changes are recorded and black pepper, 500 GL is at USD 5,020 per metric tonne.
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