Fennel Prices Surge by $0,096-$0,12 per kg

Fennel prices have risen by $0,096-$0,12 per kg recently, showing a bullish trend in the market. Despite high production levels, fennel prices are at their lowest point. Export demand has surged due to reduced prices. Notably, in April, the export price of fennel was $0,78 per kg, but it has now increased to $0.96 per kg. This improvement in exports has led to a price increase of $0,096-$0,12 per kg at consumption centers.

High Production Meets Growing Export Demand

During the current season, fennel production in the country is reported to be 38-40 million bags (each bag is 55 kg), significantly higher than last year's 20-25 million bags. The increased export demand has boosted fennel exports in the first 10 months of the current season. According to data from the Spices Board, fennel exports from April to January 2024 amounted to 35,691.33 tonnes. In comparison, exports during April to January 2023 were 19,140.61 tonnes.

Fennel Market Outlook: Prices and Demand

Sources indicate that a significant decrease in fennel prices earlier in the season has reduced the likelihood of a market recession. In the coming days, fennel arrivals at production centers are expected to decrease. Due to the low prices earlier in the season, export demand is likely to remain strong, supporting the market's bullish trend.

Fennel prices have increased due to strong export demand and high production. Despite initial low prices, the market is experiencing a bullish trend, supported by significant export growth. With expected decreases in arrivals and sustained demand, fennel prices are likely to remain stable.