Indian Spices Market Report- July 2019

• Prices across markets show an uptrend for premium qualities, mainly due to export and domestic demand
• Lesser quality stock availability and delayed monsoon have firmed up prices
• Quality stock availability has decreased across trading centers and demand from China has been increasing aggressively
• Deficit rainfall coupled with high day temperatures have impacted sowing across major growing regions
• Due to the lack of rainfall, sowings are at 20% of normal levels in Karnataka.
• Recent rains have helped to kick start sowing
• Madhya Pradesh crop sowing is expected to be completed in a couple of days with the crop in a vegetative stage

• Export and domestic demand
• Stock position at consumption centers
• South West monsoon progression across growing areas

• Prices are likely to remain steady, depending on the progression of monsoon season in the medium to long term

Seed Sowing in Mainfield

Land Preparation

• Arrivals are coming down across markets
• We have seen a downward correction of 7-8% during June as a result of better arrivals, progress of the southwest Monsoon across some of the growing regions, and sluggish domestic demand at higher price levels
• However prices are being supported at current levels
• Most of the growing regions started getting rain fall in last couple of days and overall 45% sowing is almost over

• Sowing progression across all origins
• Stockist buying from July to August
• Domestic and export demand

• Prices are likely to increase or remain steady.
• Better to cover the near medium term requirements at current levels for high-quality stock

Tumeric Field in Tamil Nadu

• Daily average arrivals during June’19 in Unjha were approximately 450MT
• Cumin prices were range bound during June’19 as a result of weak demand

• Export demand was weak due to import clearance issues and rejection of few consignments in one of the key export markets for Indian cumin.