KERALA – The overall market trend for most of the Indian spices and grains was steady this week. However, there were slight drops in a few items, and wherever there was an increase, it was not a significant one.
There was a price drop of USD 0,05 /kg in Cumin Seeds from where it opened, i.e., at USD 1,90 /kg. Furthermore, there was a drop of 32 to 36% of the product in the international market compared to last year. According to analysts, there is likely to be a further price drop in the coming days.
Whereas in Coriander Seeds, the opening amount, USD 0,890 /kg, increased by USD 0,03 /kg when the market closed on the weekend. The increase of the seed in the local market but good demand from domestic buyers is the reason for this slight price growth.
One of the very famous among all spices, Red Chilli Stemless closed at USD 0,05 /kg less with USD 2,01 /kg. Traders and buyers looked for European quality chilli, but it was not available. There was just poor demand for other grades. As a result, the local and the export market demand remained bearish.
On the other hand, Cardamom price for the spice rose slightly from USD 23,51 to USD 23,65 /kg as the domestic Indian demand might increase in August. Therefore, it is expected that the market will be bullish for cardamom in the coming days.
All categories of Turmeric prices fell significantly. Turmeric finger Europe quality opened traded at USD 1,12 /kg. The market experienced a bearish trend due to the low quality of the produce, which coupled with the heavy arrival of such turmeric and heavy rain preventing the arrival of better quality turmeric.
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