Spices Market Report

Cardamom There is no expected decline in large cardamom prices over the next 6-7 days. Due to increased purchases by stockists at current prices, last week large cardamom (Kanchikat) prices rose by ₹30, reaching ₹1850 per kilogram. Previously, on January 23, the average auction price was ₹1550/1875. This could impact market sentiment. There is no sign of any decline in cardamom prices in the spot market in the upcoming week. Jeera Over the next 5-7 days, there is no expectation of a price increase for cumin. Even at lower prices, stockists buying has weakened, resulting in a ₹300 drop in cumin prices last week, bringing it down to ₹24,500 per quintal. It was reported that around 8-10 thousand bags of cumin arrived in Unja, and prices remained stable. Due to weak buying from speculators, active futures fell by ₹195 or 0.87%, reaching ₹22,250. There is no expectation of a price increase for cumin in the spot market in the coming week. Black Pepper Over the next 6-7 days, black pepper prices are expected to remain strong. Despite the higher prices, stockists buying remains robust, and last week pepper prices rose by ₹20, reaching ₹715 per kilogram. Concerns have been raised about the weakness of the new crop in Karnataka, which could impact market sentiment. In the upcoming week, spot market prices for black pepper are likely to stay strong. Turmeric Over the next 6-7 days, there is no expectation of a price increase for turmeric. Recently, turmeric prices dropped by ₹300, and they are now stable at ₹14,400 per quintal. In Erode, around 1400 bags of turmeric arrived, and prices remained at previous levels. Weak buying from speculators has caused active futures to fall by ₹208 or 1.49%, reaching ₹13,730. There is no expectation of a price increase for turmeric in the spot market in the upcoming week. Red Chilli Over the next 5-7 days, there is no expectation of a rise in red chilli prices. Even with lower prices, stockists buying has weakened, and last week red chilli prices dropped by ₹2000, reaching ₹13,000 per quintal. Reports indicate an arrival of around 80-85 thousand bags of both new and old crops in Guntur, with prices remaining stable. The good arrival of new crops has impacted market sentiment. There is no expectation of an increase in red chilli prices in the spot market in the coming week.

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