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India’s Fennel Seeds at It’s All Time High

Mintec Global
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The price of fennel has been increasing since the beginning of the season. India’s fennel exports in the international market have come to a standstill due to high prices as the arrival of the new crop in China. The demand from China will be visible again after Diwali. The stock of the earlier purchases in Muslim countries is lying at present, but in the month of September, the demand is expected for fennel from Bangladesh, Sri Lanka and Muslim countries.

Egypt is the only competitor in the export market of Indian fennel. The fennel crop of Egypt has already come in the market 2 months ago. Although Egyptian fennel is slightly bitter in taste, many countries prefer to buy Indian fennel. At present, the price of Egyptian fennel is quoted around $1700 to 1800 per ton and the price of Indian fennel is $1900 to $2000 per ton. Bangladesh always buys Indian fennel, especially due to the SAFTA agreement with Bangladesh, getting the benefit of 15% duty in buying India’s fennel as compared to Egypt.

Fennel crop is less in the current year. Curry forward stock is also low. For the last 2 years, the demand for fennel was very less due to the effect of COVID-19 but gradually due to less effect of Corona in the current year the demand for fennel has come out strongly. Due to the high demand and less crop, the price has reached an all-time high. Because of the huge increase in the price of fennel, the demand from domestic and export markets is on wait and watch mode. Traders speculate that there will be a huge increase in export demand from the month of September. With the price of fennel being at an all-time high and good rainfall, farmers are interested in having fennel crops. Also, fennel being high compared to mustard and other crops, the production of fennel seeds will increase in the new season by 22 to 26 00 000 sacks in the new season, which will be almost double the current year. Sowing of fennel will be done before the onset of monsoon in the current year and the new crop is also expected to arrive a month earlier.

Experts suggest that domestic and export demand for fennel might increase and the price will increase before the start of the new season. Due to less stock of fennel, there will be a rise of $0,15 to $0,18 per kg till Diwali festival. There is no possibility of new arrival of fennel before 15 February. With the support of China’s export demand in fennel, the price will be $2,17 per kg before the new season.

The Fennel seeds grade A 99 prices were Recorded at $1,82 per kg FOB.