Market Report – November2022
As per various trade sources, the carry forward stocks are very minimal compared to the previous chili seasons. The domestic demand saw an increase due the national and domestic festival demands.
As per the data, the total export is down during the current crop season, due to lower availability of good quality chili and the premium price.
The Chili Sowing for the new crop is almost completed in the major areas of Karnataka, Andhra Pradesh, and Telangana.
There is still fear among the farmers, on the Western Thrips which occurred during last year. However till date the crops are found to be healthy, Coupled with the favorable climatic conditions and prevailing high price, the farmers are interested to continue planting in the remaining areas.
The upcoming Northeastern Monsoon may affect the standing crops if heavy rainfall falls in the growing areas.
Madhya Pradesh Chili will be the first Indian Commercial Chili to hit the market on December 2nd Week. Expects it be a good crop.
Forecast: Too Far to the Major season to predict the next crop. The current prices are still at the higher levels.
Transplantation of paprika chili seedlings has been completed in major growing regions.
It is estimated that the sowing area will see a reduction of 10% . The prices have seen a significant increase in the last 3 months and are currently trading at high level
Forecast: The Paprika prices seems to be stable till November/Decmber and expected to increase in during the new year.
The sowing of turmeric has been completed in most of the growing regions. New Crop arrival are expected in February 2023. The crop size of turmeric remains unchanged when compared with last year. The price continues to remain steady.
Forecast: Crop availability & Price are stable now.
Coriander market is highly volatile due to the domestic supply demand factors. The availability of coriander is extremely limited in the market due to the lower production. The pipeline stock is almost empty and stockiest are holding the material for expecting the further price hikes on account of upcoming festival demands.
The new crop season activity started with seed treatment and field preparation activities. Reported good pre monsoon rains in all the crop growing regions and water supply is sufficient from the crop development.
Forecast: - Coriander prices will have an upward trend till the next crop season in February.
Trade sources indicates that above 70% of the conventional cumin crop have been already sold. High land holding farmers are holding on to their stocks expecting the prices to go up.
The sowing of the new crop going on and continue up until End November. 2023 crop situation will depend on the acreage where the farmers will plan for the sowing and will have a high impact on the monsoon as well.
Forecast: - Cumin Prices will have an upward trend till the next crop season.
Nutmeg & Mace
Material availability is limited at domestic markets. Prices are reported upward at both domestic & International markets.
Forecast: Nutmeg & Mace prices will be on an upward trend.
Nutmeg & Mace
New crop arrivals are expected in January. As per trade sources ginger crop is expected to be short. Prices for premium quality dry ginger have shown an upward trend at domestic markets in September. Extraction grade dry ginger prices also have shown an uptrend.
Forecast: Ginger prices will be on an upward trend.
New Crop is at berry seeing stages. Indian black pepper prices have indicated a steady trend mostly in October.
Pepper harvest is ongoing in Indonesia As per trade sources crop is reported to be shortWhite pepper light berry prices increased continuously due to less stocks and high domestic demand.
Vietnam pepper new crop arrivals are expected in December. As per early indications crop is expected to be normal. Availability of light pepper with high piperine is limited as of now.
Sri Lankan Scenario
Sri Lankan pepper Price have indicated a stable trend in October. Availability of light pepper with high piperine is limited. Kandy crop arrival is expected in Mid-November - December Crop is expected to be normal.
Forecast: Black & White Pepper prices will be an upward trend.
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.