Fennel Frenzy Prices Expected to Skyrocket

Booming Exports and Lucrative Prices Fuel Anticipated Surge in Gujarat’s Fennel Cultivation

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Anticipation of Surge in Fennel Planting in Gujarat

Amid growing exports and appealing price points, Gujarat is set to see a rise in fennel cultivation. Insiders in the industry point out that the region is currently in the midst of fennel sowing. Early indications hint at a potential increase in the cultivation of this essential grocery item this season. Recent shifts in the local wholesale grocery market depict a drop in fennel prices, settling at $330 and $348 per quintal for different varieties.

A merchant’s Perspective from Unjha Mandi

A seasoned trader from Unjha Mandi in Gujarat highlighted the diminishing fennel supply in the market. Despite the decrease, prices have largely maintained stability due to slowed arrivals and reduced buying activity. In Unjha Mandi, standard quality fennel seeds are priced between $24 to $30, while the premium variants range from $42 to $48.

Farming Activities and Climate Factors

Farmers in the area are deeply involved in the sowing of fennel seeds, anticipating a robust cultivation season, encouraged mainly by the rewarding export prices they have achieved recently. Shri Patel pointed out that the current weather conditions are ideal for fennel cultivation, explaining perhaps why many farmers are holding off on planting other Rabi grocery crops and concentrating more on Safflower.

Trade Data and Forward-Looking Insights

Data from the Spices Board, covering April to July 2023, shows that India exported 19,726.72 tonnes of fennel valued at around $3.73 million. In comparison, during the equivalent period the previous year, exports stood at 8,952.20 tonnes, yielding roughly $1.4 million in revenue. This data reveals a 120% rise in export volumes and a 247% boost in revenue on a year-to-year basis. Industry analysts speculate that the decreasing fennel reserves could influence its pricing, with the upcoming sowing season possibly playing a role in the price movement of this vital grocery product.Amidst favourable weather and promising export trends, Gujarat is poised for a significant uptick in fennel cultivation.

Import/Export Statistics

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