The Impact of Fenugreek Decline on the Market

The Impact of Fenugreek Decline on the Market

Mintec Global
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Fenugreek, the aromatic herb and spice, is facing a significant setback this season in India’s Gujarat, Rajasthan, and Madhya Pradesh regions.

Considerable decline in arrivals

Last year, different regions of Gujarat saw a heavy arrival of fenugreek. But this year, the picture is entirely different. The fenugreek crop in Gujarat has witnessed a considerable decline, with only 0.275 million sacks of crops estimated to be harvested this year, compared to the previous year’s 0.575 million bags.

Currently, 75% of the crop lies idle at farmers’ homes, while the first two months of the season saw only 25% of the crop arrive in the country. The regular export of Indian fenugreek is 0.4 million bags yearly, but the prices in Pakistan, India’s rival in the spice market, had risen to $750 per tonne from $600 per tonne when the season began. This makes it more challenging to export more than the regular export of fenugreek from India, with prices of Indian fenugreek already at $900 per tonne.

Fenugreek production in the current season is estimated to be 1.2 million bags lower than the annual requirement of 2 million bags, leading to a significant decline in the market. Experts predict, at the end of the season, there is no possibility of a huge boom in fenugreek.

Shortage in global market?

The decline in fenugreek production is significantly impacting the market, with both domestic and international sales being affected. While the fenugreek crop’s fall may not have a massive impact on the Indian market, it could cause a shortage in the global market. With the increasing demand for fenugreek in different cuisines worldwide, a decline in production could lead to a rise in prices, impacting the spice’s overall availability.

Import/Export Statistics

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