Fennel Prices Soar: Weather Woes and Limited Stock Drive Upwards Trend

Fennel Prices Soar: Weather Woes and Limited Stock Drive Upwards Trend Fennel Crop Affected by Unseasonal Rains Sparks Possibility of Significant Price Increase

Mintec Global
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Due to unseasonal rains during crop preparation, fennel stocks in producing districts have significantly diminished. Prices are continuously rising, with production at only 45-46 percent and limited reserves in shops. 

The latest estimates indicate that production will remain at a mere 45-46 percent, mirroring the heavy losses experienced in the cumin industry. Fennel, like cumin, is cultivated in the same regions and is susceptible to the same weather conditions, resulting in reduced yields. Even in the fennel-rich part of Lucknow-Bareilly, the crop has declined, leading to a continuous price increase as pickle makers increase their demand. The limited availability of old stock further exacerbates the situation, while substantial quantities are being exported to Bangladesh and Nepal. In Punjab and Himachal, pickle manufacturers procure quality fennel at any price.

As the new fennel crop arrives 8-9 months away, wholesale shops have scarce stock, and sellers are reluctant to part with their reserves. Observing the soaring prices, some traders have sold their thick fennel stocks until July and are sourcing goods from producer shops to fulfill orders. The Bikaner and Jodhpur markets are bustling with activity, while the Neemuch line in Madhya Pradesh is experiencing low supplies and, subsequently, higher prices. Consequently, the fennel business may witness an increase this month.

Navigating the fennel market is like walking on thin ice for exporters, with prices fluctuating and supplies running low. However, amidst this tricky terrain, there lies a golden opportunity for exporters to strike gold. The demand for fennel is soaring, creating a lucrative market. It’s time for exporters to seize the bull by the horns, adapt to the changing winds, and ride the wave of profit in the fennel trade.

 

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