fennel seeds, A Harvest Surge in Gujarat Delights Fennel Farmers

Fennel Prices Drop Amidst Record Production Levels

Mintec Global
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Substantial Increase in Fennel Production

Fennel production in India has seen a significant increase, doubling compared to last year. This surge in production has led to an influx of fennel arriving at production centers, stabilizing the market and reducing the likelihood of price increases. Notably, the price of fennel in Unjha Mandi, which ranged from $1,46 to $2,10 per kg in April 2023, has now adjusted to $0,78 to $1,68 per kg. In the Rajasthan markets of Merta and Nagaur, prices have similarly adjusted from $1,44 to $1,80 last year to $0,72 to $1,08 currently.

Current Arrivals In Market

The main market in Unjha is receiving about 40,000 bags of fennel, while Merta and Nagaur Mandis in Rajasthan are seeing arrivals of 1,500 to 2,000 bags. With production expected to keep rising, market prices may decrease further by approximately $0,096 to $0,12 per kg.

Production and Sowing of Fennel

The sowing of fennel has more than doubled at production centers due to favorable weather conditions. The current season’s production is estimated to be between 2.2 million to 2.31 million bags (each bag weighing 55 kg), a substantial increase from last year’s 1.1 million to 1.16 million bags. Fennel cultivation has expanded across Gujarat and Rajasthan, and notably in Uttar Pradesh, where it increased from 0.22 million acres last year to 0.48 million acres this year.

Export Figures

According to the Spices Board, fennel exports from April to December 2023 amounted to 31,939.2 tonnes, a significant rise from the 16,838.14 tonnes recorded during the same period in 2022. The total export for the fiscal year 2022-23 reached 21,200.62 tonnes, compared to a record 40,138.68 tonnes in 2021-22.

Export prices for fennel have also significantly decreased, halving compared to the previous year. Early April 2023 saw export prices at $1,62 to $1,63 per kg, which have now been reduced to around $0,82 per kg.

The market for fennel have been influenced by increased production and favorable climatic conditions, resulting in lower prices both domestically and internationally. This trend provides an interesting perspective on the supply-demand balance in agricultural commodities.