Fennel Forecast: Price Rollercoaster Ahead, Diwali Surprise Awaits! Crop Arrivals Soar, Prices Surge, and Export Demand Cools

Mintec Global
Spread the news!

The aromatic spice market is abuzz with anticipation as fennel prices experience a wild ride. A seasoned analyst predicts a decrease in fennel prices in July, only to see them skyrocket by September. 

Unjha, the epicentre of fennel trade, has witnessed the arrival of 1.870 million bags, accounting for a whopping 92% of the estimated 2.025 million bag crop. A record-breaking export spree in April sent fennel prices soaring in 25 days, triggering a rush of daily arrivals and an early market debut. Farmers now hold limited fennel stocks, while traders and stockists revel in their stashes.

Export figures reveal a staggering 2.37 million bag surplus compared to the previous year. The international market reflects this, with Egypt’s new Fennel commanding $2800-2850 per ton, up from $1950 at the beginning of the season. However, a cooling in export demand, coupled with two price hikes, hints at a possible slump until August.

Amidst the frenzy, experts predict an unrelenting five-month price surge until Diwali. The import of Egyptian Fennel, burdened with a hefty 33% duty, is deemed unviable, with limited consumption due to its bitter taste. Nevertheless, new fennel arrivals in March, post-Diwali sowing, present a glimmer of hope. In this tumultuous fennel market, shortage plagues the supply side, with Rajasthan’s shops witnessing a meagre daily arrival of 700-800 bags. The scarcity of the sought-after natural colour variety has propelled Abu Road’s prices.

As the fennel sowing season approaches Diwali and the new crop emerges in March, the market is thirsty for this aromatic spice. With domestic demand as its steadfast ally, Fennel’s price journey promises an exhilarating climb on Diwali. 

Please click to reach our Marketplace