Weak Ahead : Spice markets likely to remain mixed amid improved buying

Cumin seed prices were mostly firm in the physical markets last week but futures remained nearly 1% down due to profit-booking as demand is weak. The exporters and the stockiest are seen uninterested to increase their stocks as export demand is poor.

As per the trade analysts, cumin seed market is witnessing bearish mood presently because of sluggish export demand. The exports of cumin seed dropped over 60 percent in the month of March as compared to the same month last year.
Cumin seed exports were around 13406.43 tonnes in March 2022 against 33203.08 tonnes in March 2021.

The physical markets witnessed a jump by Rs 10-60 per bag of 20kg each in most varieties at the market of Unjha while Bombay bold declined Rs 140 per 20kg. Mixed prices were seen at Rajkot as Europe quality was priced flat while Singapore gained Rs 20 per 20kg but Discolor variety slipped Rs 70 per 20kg.

Red Chilli

Red chilli prices gained in most of the markets last week and similar trend is likely to continue this week as its consumption demand is expected to increase during monsoon season, a trade analyst said.

Red chilli prices gained Rs 3-30 per kg in the physical markets.

Coriander seed

Coriander seed prices were mixed in the spot markets last week while futures ended a tad up amid slow demand while regular supply was witnessed. Prices of coriander see are likely to remain range-bound as farmers need money for kharif cultivation while demand from stockiest, processors, and traders is low at higher level but lower level buying is constantly seen.