Market Report – May 2023
Chilly Season in India is almost over.
Though the crop estimated was good, the price has not moved down so far. There are buyers in the market from China, Vietnam and other Asis Pacific countries. Which is keeping the raw material prices stable.
During the 3rd and 4th picking there was sever thrift infestation, which resulted in crop shortages.
The market is expected to close for Holidays by Mid May.
Forecast: The prices remain stable at the moment
The Paprika season is almost over in all origins and the prices have remained stable.
We expect the price to be stable till September/October 2023.
The new crop effect and the carry forward situations for the new crop in 2024.
Forecast: The price and availability stable at the moment
We are at the fag end of the Turmeric Season.
Though there was decrease in the area under cultivation the quantity output will not have major effect due to good carry forward stock.
The prices remains steady and will not have major impact.
Forecast: The price availability is stable at the moment
The arrivals this year is 25% less than compared to that of the last year as the area under Ginger was lower in Karnataka this year and the yield were registered 15% lower as compared to that of the last year. Availability of the extraction quality material has already come to an end..
Harvesting has been completed in almost all of the areas with the yields registered are less than that of the yields registered last year.
Traders are anticipating further price increase due to the overall shortage of ginger in the current season due to the low Carry Forward stocks and the low yields registered, Farmers are selling their produce fresh due to the existing prices.
Forecast: Ginger prices will be on an upward trend
Nutmeg & Mace
The new crop starts off in May
Nutmeg & Mace price remains steady during the start of the season.
The new crop will extend up to August and will watch the markets for any major impacts.
Forecast: Nutmeg & Mace prices will be stable for the next 3 months
Cumin production has a decrease of at least 5- 10 % this year as the area under cumin decreased due to the low interest from the farmer and the seeds sown were not germinated due to the high temperatures prevalent at that time.
The carry forward stocks are 60% lower compared to last year.
Cumin has registered record prices due to the less stocks, less acreage and initial yield losses reported in Gujarat
Forecast: - Cumin Prices will have an upward trend
Black pepper markets across the globe reported a stable trend. Rising inflation and interest rates have affected the pepper trade adversely. Domestic and International demand continues to be down.
Indian pepper price indicated a stable trend, contributed by Indian Rupee weakening against the US Dollar
Domestic and international prices for Indonesian pepper reported stable for March. Some farmers have finished their interments harvest in limited area
Black pepper prices in Sri Lanka indicated a stable trend in March, partially contributed by the weakening of the Sri Lankan Rupee against the US Dollar.
Forecast: Black & White Pepper seems to be stable in short run.
Disclaimer: The content of this report is provided as general information only and is strictly the opinion and best of the knowledge of its authors. Information is provided without any warranty, expressed or implied. Information is gathered from sources which are believed to be authentic.