Spices market report
Chilli Although prices have fallen, there is still pressure on the sale of chili. Despite a drop of ₹2000 the previous day, heavy selling by stockists has caused the price of 334 variety chili to further decline to ₹13,000 per quintal. In Guntur, around 70,000 bags of both new and old crops have arrived, and a further decline of ₹500-1500 is expected. The increased arrival of the new crop is affecting market sentiment, and no price increase is anticipated in the immediate future. Cumin Despite the price drop, cumin sales have increased, causing its price to fall to ₹24,800 per quintal. Recently, it saw a ₹200 drop. Around 8-9 thousand bags have arrived in Unjha, and prices have remained stable. With increased buying by speculators, the active futures market saw a ₹275 drop, bringing its price down to ₹22,565. In the next few days, the decline in cumin prices may temporarily halt. Cardamom In today’s auction by the Idukki District Traditional Cardamom Producer Company Limited, the arrival of small cardamom decreased to 52,716 kg. Despite lower arrivals, demand remained weak, causing the average auction price to drop to ₹3040.08 per kilogram, down from ₹3119.93 per kilogram in the previous auction on January 9. Despite the price decline, demand remained sluggish, and the price of small cardamom stayed at ₹3350 per kilogram. No price increase is expected in the next couple of days. Black Pepper Although black pepper sales are sluggish despite increased prices, the price remains stable at ₹695 per kilogram. A ₹5 increase was observed the previous day. The arrival and prices in Kochi have remained unchanged. The lower arrival of the new crop is influencing market sentiment, but black pepper prices are expected to maintain their strength in the coming days.