India: Weekly Overview of Spices

India: Weekly Overview of Spices

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India is the world’s largest spice producer. It is also the largest consumer and exporter of spices. Today, Indian spices are the most sought after spices worldwide for their exquisite aroma, texture, taste and medicinal value. Let’s take a look at predictions at the home of spices.

CUMIN

This week’s Prediction: -Downside 3-4% Upside 6-8%.

Trend up  OPEN: 7.75%  CLOSE: 7.69%. Cumin gains due to good export demand and expectation of lower stock.

CORIANDER

This week’s Prediction: – Downside 2-3% and Upside 4-5%.

Trend up OPEN: 6.76% CLOSE: 3.59%. Coriander Seed prices are expected to trade sideways and every downside is an opportunity of buying. However, due to the high demand for China, Coriander is not likely to go downside.

TURMERIC

This week’s Prediction: –  Downside 1-2% Upside 3-4%.

Trend up  OPEN: -1.90% CLOSE: 10.08% the untimely rains occurred in various places damaged turmeric crops causing huge losses to the farmers. The market is running with huge stocks and stockiest are trying to release their stocks with every rise in prices.

FENUGREEK

This week’s Prediction: –  Downside 2-3% and  Upside 3-5%.

Trend up OPEN: 1.82% CLOSE: 2.55% is expected to grow at a steady rate, according to a Fenugreek Market report, i.e. range bound only until huge demand does not come from domestic and overseas markets. It can go upside anytime.

Mintec Global

FENNEL

This week’s Prediction: –  Downside 4-5% and  Upside 4-6%.

Trend Up  OPEN: 15.63%  CLOSE: 18.75%. *- Due to the demand and arrival, the market of fennel is on the upside. But in the coming week, it will not sustain the higher prices if demand is not like the last week.

KALONJI

This week’s Prediction: –  Downside 2-3% and  Upside 1-2%.

Trend down OPEN: -2.75%  CLOSE: -2.20% Market is down this week because of a less demand.

CHICKPEAS

This week’s Prediction: –  Downside 2-3% and  Upside 3-4%.

Trend Up  OPEN: 2.89%  CLOSE: 1.65% Global chickpea supplies are expected tighter and prices are likely to creep higher amid disappointing crops in some parts of the world, including India.

GREEN CARDAMOM

This week’s Prediction: – Downside 2-3% and Upside 1-2%.
Trend Stable OPEN ↔️ CLOSE: Market is stable this week. The market can go downside as the market is already at its high. From this point, it can go only downside if demand not comes.

BLACK CARDAMOM

This week’s Prediction: –  Downside 3-4%  Upside 1-2%.

Trend Down OPEN: 0% CLOSE: -2.94%. The market is trending upward due to a high demand in the domestic market as well as exports. In the coming week prices will be high due to less supply and higher demand.

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