The feast season in India is turning out to be less spicy

  • India’s erratic weather conditions have been a setback for spice industry even during the festive season.
  • Several states have witnessed sluggish demand across spices specially turmeric.
  • Spot turmeric prices are quoting lower day after day at the major Erode market

The erratic monsoons this year has taken the colour off Indians and their food too, as it seems. While the festive spirits are high, the celebratory foods will fall short of spices.

Several states have witnessed sluggish demand across spices specially turmeric, says a report by SMC Capital.

Sluggish demand day by day

Even as vegetable prices are going up, this festive season, the prices for spices like turmeric, jeera (cumin), dhania (coriander) are coming down.

"Spot turmeric prices are quoting lower day after day at the major Erode market (in Chennai) amid sluggish demand. According to traders, demand is weak due to the ongoing rains in many states," the report says.

Finger turmeric was sold at ₹5,669-7,809 a quintal. The root variety was sold at ₹5,251-6,465 a quintal at the Erode Turmeric Merchants Association Sales yard.

Same is the case with Cardamom futures

“Cardamom futures may witness an upside momentum towards 3200-3300 levels in November. The sentiments are upbeat due to strong festival season demand and lesser supply. This is the peak season for cardamom. Ideally, at least 150tn should arrive in the market, but only half the quantity is arriving for sale,” said the report.
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