The overall production of cumin for 2020-21 dropped by 6.1 per cent, where the production stands at 856,505 tons. The prediction is that the prices of cumin are likely to go up in the coming months due to low output, incoming festivals and weddings season in India. According to the Spices Board, India exported 299,000 tons of jeera in 2020-21, up 40% on the year. According to a survey conducted by the Federation of Indian Spice Stakeholders, cumin production in India is likely to be 478,520 tons in 2020-21 (Oct-Sep), down by 11 per cent
Similarly, for other spices that saw a slump in prices, like coriander and turmeric, the prices are expected to go up in the coming weeks.
Current Price of Cumin A grade is FOB 1,95$/ kg
The Spice Board of India reported that coriander production has gone up by 17.3 per cent this year, i.e., 822,210 tons. As a result, the export of coriander is also up by 21 per cent this year, which is 57,000 tons. Compared to last year’s production, which was 701,000 tons, India produced 702,000 tons of coriander this year. The significant rise is 55 per cent more coriander production in Gujarat, as there has been an acreage increase.
Coriander Egle 5% Split price going on around FOB 0,92$/ kg
Turmeric too enjoyed better export figures compared to last year. This year it was up by 33 per cent, i.e., 183,000 tons in Financial Year 2020-21. However, Government saw 2020-21 turmeric output at 1.11 million tonnes compared to 1.15 million tons a year ago.
Turmeric A Grade Double Polished as of now at FOB 1,05$/kg
According to the Spice Board of India, small cardamom production was up by 100%, and the country exported to 6,500 tons, up 251% on the year.
It is expected that the overall spice market will move towards a better and improved position in the coming weeks.
Cardamom 8 mm trading at FOB 23,23$ / kg
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