Fenugreek Production Is Bumper in India Prices Expected To Increase In July

Fenugreek price is at the bottom level now, and the trend will persist for June. However, according to experts, the price will increase in July by only $0,03 – $0,04 per kg.

Current Scenario

This year’s fenugreek production is bumper with a 10 to 15 percent increase in Rajasthan production.

Almost 70 percent of the produce from Rajasthan has reached the market.

During the last two months, the arrival was about 25 to 27 thousand bags, where each bag weighed 50 kgs. Now it is down to 5000 to 6000 bags.

The high crop production has resulted in the price becoming bearish from the beginning of the season.

It has only been during the last two days that the price has improved a bit by $0,01 to $0,03 per kg.

The local demand for fenugreek has been low in May. This is because the pickle-producing factories purchase the commodity in large quantities to make mango pickles during the month. But with the late arrival of the mangoes, the demand was not visible.

With the arrival of mangoes in the market, the demand for fenugreek is slowly increasing in the local markets.

It is expected that with the arrival of the monsoon, the demand for the product will also increase in Maharashtra and South Indian states.

The export of fenugreek has also decreased due to the high exchange rate. Mainly Sri Lanka, Yemen, and Egypt purchase fenugreek from India, but now the export to the country is down by 30 percent compared to last year.

Future

There can be a nominal increase in the price in July. But if the sowing is down during October – November, the price can improve to $0,90 – $0,96 per kg.

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