After a recent surge of USD 1,32–1,38 per kg, nutmeg prices have seen a steady inflow from producing markets to North India. As a result, prices have softened by USD 0,48–0,54 per kg. With high prices already reached, taking profits by selling at current rates may be prudent.

Price Movements and Market Context

In the last fortnight, nutmeg prices increased by USD 1,32–1,38 per kg, reaching approximately USD 8,54–8,60 per kg in local markets. Meanwhile, international prices also rose to USD 7.300–7.600 per ton due to supply shortages, prompting exporters to buy in bulk. Despite these high prices, only 32% of the purchased nutmeg has been shipped. Outside traders have also shown strong buying interest, driving nutmeg prices from USD 7,10–7,15 per kg. However, with new stock arriving, prices have settled around USD 8,52 per kg by evening.

Goods from the Ernakulam region are now flowing directly into major markets like Delhi NCR, and stock originally headed to regional hubs in Himachal Pradesh, Punjab, and Uttar Pradesh is being redirected due to ample direct supply from producing regions.

Current Market Dynamics and Short-Term Outlook

Exporters are now stepping back due to high international prices, which is reducing spot trading activity. As more stock flows in from producing markets, the nutmeg market should remain stable in the coming days. While production of nutmeg and mace has declined this season, recent price spikes are cooling demand. Market activity is likely to rise again in about two months.

Mace Price Trends

Similarly, mace prices surged, with red mace rising from USD 20,17–20,44 per kg to USD 22,57–22,83 per kg over the past 20 days. Profit-taking in mace is also advisable, as yellow mace from Singapore is available at lower rates, and the influx of dyed varieties has begun, likely capping further price gains.

Conclusion

The recent price spikes in nutmeg and mace, selling now to lock in profits appears wise given current market conditions.





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