Fenugreek Market Heats: A Spicy Forecast Ahead
The fenugreek market is heating up as low production and depleted old stock set the stage for a price surge. This season's abundant output and a 40 percent decrease from the previous year have created a shortage, leaving the market simmering. As the new crop progresses, the anticipation of further price hikes adds spice.
The domestic spice industry and Ayurvedic companies are adding fuel to the fire, driving the demand for fenugreek to new heights. Fenugreek cultivation has roots in Madhya Pradesh, Rajasthan, Gujarat, and partially in UP-Bihar and border regions. However, weather woes have played spoilsport, reducing sowing by 22 percent in the last season. Pests have also cast their shadow, leading to a significant decrease in the crop.
Despite the arrival of new goods in March-April, shops in Neemuch, Mandsaur, and Kumbhraj are yet to see a wave of Supply. Instead, new goods were promptly sold during the season, igniting a steady price rise. The Neemuch line witnessed a fiery climb in the price of fenugreek during the last 15-20 days.
While stockists thrive in the fenugreek market, traders in Haryana, Punjab, and Gujarat must navigate supply fluctuations. Gujarat's goods are dwindling in North India as local sales take precedence, leading to a shortfall in Supply. Looking ahead, the new crop is still a year away, and with the current demand and limited incoming pressure, fenugreek is expected to continue trading at higher prices.
As the fenugreek market simmers with limited Supply, importers must brace themselves for a spicier season ahead. The rising demand and shortages set the stage for a flavourful and unpredictable journey.
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The domestic spice industry and Ayurvedic companies are adding fuel to the fire, driving the demand for fenugreek to new heights. Fenugreek cultivation has roots in Madhya Pradesh, Rajasthan, Gujarat, and partially in UP-Bihar and border regions. However, weather woes have played spoilsport, reducing sowing by 22 percent in the last season. Pests have also cast their shadow, leading to a significant decrease in the crop.
Despite the arrival of new goods in March-April, shops in Neemuch, Mandsaur, and Kumbhraj are yet to see a wave of Supply. Instead, new goods were promptly sold during the season, igniting a steady price rise. The Neemuch line witnessed a fiery climb in the price of fenugreek during the last 15-20 days.
While stockists thrive in the fenugreek market, traders in Haryana, Punjab, and Gujarat must navigate supply fluctuations. Gujarat's goods are dwindling in North India as local sales take precedence, leading to a shortfall in Supply. Looking ahead, the new crop is still a year away, and with the current demand and limited incoming pressure, fenugreek is expected to continue trading at higher prices.
As the fenugreek market simmers with limited Supply, importers must brace themselves for a spicier season ahead. The rising demand and shortages set the stage for a flavourful and unpredictable journey.
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