Declining Arrival of Fenugreek Seeds Creates Bullish Trend in the Market
Over the past three days, the arrival of fenugreek seeds in the market has been steadily decreasing, leading to price cuts for small traders. The scarcity of old stock in the market has contributed to a bullish trend. Mandis (wholesale markets) in Madhya Pradesh has witnessed a rise this week, showing a continuous upward trajectory. In the coming month, an additional increase is possible.
Fenugreek seeds now fetch higher prices in shops across Rajasthan and Madhya Pradesh. Fenugreek is cultivated in various states in North India, Rajasthan, Gujarat, and Madhya Pradesh, accounting for 77% of the country's production. Sowing takes place in November-December, with harvests beginning in March. In April, market conditions slowed due to decreased demand. However, demand is now resurging at lower prices.
Fenugreek cultivation has witnessed a 17-18% reduction in the area cultivated due to farmers focusing more on coriander and cumin. Consequently, fenugreek supply in the Neemuch, Mandsaur, and Ratlam areas of Madhya Pradesh has decreased by 20-22% compared to last year. However, the consumption of fenugreek in North India has seen an average increase of 26% since January.Â
The demand for fenugreek from Ayurvedic companies in Madhya Pradesh and Rajasthan has surged, contributing to the current price rise. The decreased arrivals from producers and limited stock in local grocery markets have increased prices. Orders from Madhya Pradesh incur an additional cost, while Gujarat buyers also seek supplies from Rajasthan. Buyers from Maharashtra, Punjab, and Karnataka are purchasing fenugreek seeds to meet their respective demands. Considering these circumstances, it is anticipated that fenugreek prices will rise rapidly.
Fenugreek seeds now fetch higher prices in shops across Rajasthan and Madhya Pradesh. Fenugreek is cultivated in various states in North India, Rajasthan, Gujarat, and Madhya Pradesh, accounting for 77% of the country's production. Sowing takes place in November-December, with harvests beginning in March. In April, market conditions slowed due to decreased demand. However, demand is now resurging at lower prices.
Fenugreek cultivation has witnessed a 17-18% reduction in the area cultivated due to farmers focusing more on coriander and cumin. Consequently, fenugreek supply in the Neemuch, Mandsaur, and Ratlam areas of Madhya Pradesh has decreased by 20-22% compared to last year. However, the consumption of fenugreek in North India has seen an average increase of 26% since January.Â
The demand for fenugreek from Ayurvedic companies in Madhya Pradesh and Rajasthan has surged, contributing to the current price rise. The decreased arrivals from producers and limited stock in local grocery markets have increased prices. Orders from Madhya Pradesh incur an additional cost, while Gujarat buyers also seek supplies from Rajasthan. Buyers from Maharashtra, Punjab, and Karnataka are purchasing fenugreek seeds to meet their respective demands. Considering these circumstances, it is anticipated that fenugreek prices will rise rapidly.
