Arrival of Monsoon Can Bring Happiness on the Face of Nutmeg – Monsoon Is Delayed by Four Days
Meteorological Office informs us about rain delay in Kerela
In India, nutmeg is mainly cultivated in Thrissur, Ernakulam and Kottayam districts of Kerala and parts of Kanyakumari and Tirunelveli districts in Tamil Nadu. Meteorological Department informed that this time the onset of monsoon in Kerala was predicted to be delayed by 4 days as compared to the normal date of June 1, now there are reports that it will get further delay.Delayed monsoon hinders the trade by one more week
The department informed that this time instead of the normal date, the monsoon may arrive in Kerala further late. Due to this reason, there are possibilities of further slowing down of nutmeg trade in Kerala. The stockists and wholesalers of nutmeg are worried about the news issued by the Meteorological Department. Business sources gave this information.Vishnu Gupta, a trader based in Kerala's Kochi Mandi, said that if the monsoon had arrived even today, business activities in nutmeg would have increased in the state, but now it will have to wait for at least a week more. He added that the weather was hot and stockists and Disawar's buying also remained sluggish being here in nutmeg business activity slowed down.
New crops are expected to be weak this year
Mr. Gupta said that till the onset of monsoon and till it rains well, there is no possibility of increasing the arrival of nutmeg. He further said that if the indications received so far are to be believed, then this time the new crop of nutmeg in Kerala may come a bit weak. Even after this, due to sluggish trading activities, its stockists and wholesalers an atmosphere of anxiety has started forming among them and their anxiety can reduce only when the rains start.Export turnover has decreased, but value has increased – Local market is down
As per the data of the Spices Board, in the financial year 2022-23, 3.45k tonnes of nutmeg mace has been exported from the country worth USD 270 Million. Last year it was 3.5k tonnes of it was exported and an income of USD 265 Million was earned from it. This shows that there has been a decrease of 4% in the export of nutmeg on a quantity-wise basis while the income has improved by 2%.Only a good amount of rain may prevail the sluggishness in the trade of nutmeg. Traders otherwise cannot trade in broken monsoon in Kerala. There is a need for a good amount of rain for the proper production of nutmeg and mace.
This is the reason that nutmeg without peel is holding at $ 7,20 and with peel at $ 3,65 per kg in the local markets. He said that a tender for export has definitely been heard, but it seems difficult to fulfill the expectation of an increase in the price of nutmeg in the market.