Fenugreek Forecast: Price Surge on the Horizon

Fenugreek Market: Price Surge on the Horizon It is Due to High Demand, Short Supply

Mintec Global
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The fenugreek market will experience a substantial price surge in the coming months, driven by several factors, including limited supply and rising demand. The current situation reveals that 75% of fenugreek seeds have already entered the market, leaving farmers with only 25% of the crop and stockists with 35%. Out of the total harvest, which amounts to 60%, there is a need to extract and sustain the supply for the next nine months. With the demand for fenugreek gaining momentum, the price is expected to skyrocket between November 20 and January 20.

Last year, around 300 to 400 trucks transported fenugreek to Bangladesh from the border of Madhya Pradesh and Rajasthan. This year, trade with Bangladesh is projected to be even more significant, starting with the current season. Once the harvest of fenugreek is complete, the demand from Bangladesh will likely surge in the Indian fenugreek market. The 2024 season is attributed to a 40% decrease in fenugreek cultivation. The sowing of fenugreek will continue in Bhawaninagar, Neemuch, and Mandsaur in Madhya Pradesh, compensating for the decline in other regions.

The demand for fenugreek seeds is thriving in Maharashtra, South India, and Punjab. Recent exports to Bangladesh and a sudden price drop have led to depleted stock levels and a market shortage due to soaring demand. Rajasthan has already received 80% of its fenugreek crop, while Madhya Pradesh has harvested 60% to 70%. Unfortunately, Gujarat’s production fell short of expectations, with less than two lakh bags instead of the projected 6 to 7 lakh bags. With market dynamics in play, experts predict a surge in the price of fenugreek seeds in the near future.

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