Spice Market Trends: Fenugreek Rises While Other Crops Decline
According to the latest estimates released by the Federation of Indian Spice Stakeholders (FISS) at the Ninth Annual Spice Conference in Goa, the production of coriander, fennel, and cumin in India is expected to decline compared to last year. However, fenugreek production is set to increase due to favorable weather and improved yield per hectare.
Coriander Production Decline Due to Lower Sowing Area
The major coriander-producing states—Madhya Pradesh, Gujarat, and Rajasthan—have seen a reduction in sowing area this season. This has led to a decrease in estimated production.Cumin Production Affected by Lower Sowing and Productivity
Cumin sowing has also decreased in Gujarat and Rajasthan, resulting in lower expected production.Sharp Decline in Fennel Production
Farmers received lower prices for their fennel crops last season, which discouraged sowing for the current season. This has led to a 53% drop in sowing area and a significant decrease in production.Fenugreek Production Sees an Increase
Despite only a marginal increase in the sowing area, fenugreek production is expected to be higher due to favorable weather conditions and improved yields.Conclusion:
With reduced production in coriander, cumin, and fennel, prices may rise in the coming months, making these spices attractive for investors and traders. On the other hand, an increase in fenugreek production may stabilize its market price, offering a good opportunity for buyers.