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A Mixed Market For Most Indian Spices, Nuts and Seeds This Week

by | Sep 10, 2021 | Specials, Spices

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The market this week witnessed mixed pricing for most commodities. While some closed the week on a higher note after a slump, some remained steady after a bit of an increase.  The spotted pricing in the market resulted from increased demand in some commodities, lack of getting good quality products, and decrease or end of export orders.

After last month’s tender release for sesame seeds for Korea, the prices of the seeds dropped for almost all varieties. White Natural 99/1/1 decreased to $1,43 per kg FOB from $1,515 per kg FOB. The only Sesame seeds that recorded improved pricing were Regular Black 99.90% and Super Z Black 99.95%. The former increased from $1,64 per kg FOB to $1,69 per kg FOB, while the latter improved to $2,00 per kg FOB from $1,94 per kg FOB.

Like sesame seeds, chickpeas varieties too experienced a price fall from $1,39 per kg FOB to $1,38 per kg FOB for 42-44 (12MM). Cashew nuts had the biggest slump in the market price this week, the lowest since June 2021 for all its varieties, like W240 decreased from $10,56 per kg FOB to $8,21 per kg FOB on September 7 before closing the market at the same price on September 8.

Even cardamom prices fell from $23,05 per kg FOB for Green Cardamom 8mm to $19,12 per kg FOB on September 7. It too closed the week at the same price on September 8. The same was the case for Nigella, which closed the market for the week at $3,22 per kg FOB from $3,08 per kg FOB.  Turmeric Finger (Salem, Double Plashed, No.1) fell from $1,21 per kg FOB to $1,18 per kg FOB this week, while cumin price continued to slide down on two consecutive days. Cumin A Grade 99% Pure opened the month at $2,19 per kg FOB decreased to $2,13 per kg FOB on September 7. It continued the downward spiral before closing at $2,12 per kg FOB on September 8. The case was the same for all the other cumin varieties. Fenugreek prices too fell from $1,050 per kg FOB to $1,050 per kg FOB.

The commodities that ended the week on a higher note were Groundnut varieties, at $1,33 per kg FOB from $1,31 per kg FOB for Bold 40-50. Mustard seeds, too, had a price increase in two consecutive days, from $1,18 per kg FOB to $1,27 per kg FOB for the variety Brown Mustard Seeds Micro Machine Clean. All the mustard seed variants experienced a price hike on the closing day of the week.

Similarly, coriander variants too experienced improved prices with demands increasing in the mills and southern states of India. As a result, the spice closed the market at $1,12 per kg FOB from $1,05 per kg FOB for Coriander Eagle 5% Split.

The rest of the commodities like Raisins, nutmeg, dill, black pepper, and dry ginger remained the same from the beginning of the month.

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