OfBusiness Spices Dailies | 19th July 2023

Price

• Prices in the Guntur market remain steady with Teja reporting deluxe quality price at Rs. 242/kg during this morning’s market, while some super deluxe lots were quoted as high as Rs. 245/kg, with the overall market staying constant at around Rs. 240/kg.
• Bidding for 5531 going around Rs.200/kg for deluxe quality chilli as per quality norms.
• In the morning market, bidding for 341 is steady at Rs. 220/kg, while 334 is stable with good demand for export at Rs. 230/kg.
• Khammam market remains stable, with today’s closing price for Janda Paata at Rs. 245/kg.
• Warangal market is experiencing stability with occasional fluctuations around Rs. 240/kg for Teja variety. Today, the market closed at Rs. 238/kg for Teja, while 341 is being traded at around Rs. 215-220/kg.
• Unjha market shows a continuing upward trend, with yesterday’s closing price for deluxe quality cumin at Rs. 641/kg.
• Fennel bidding fluctuates as usual, and the market is rising in tandem with cumin with closing at Rs. 293/kg.
• Dill seed (Ajwain) prices are on an upward trend in the market, and bidding closed at Rs. 205/kg in last Saturday’s market.

Demand and Supply

• Over the weekend, the market declined, but it has stabilized this morning in Guntur. Today, Guntur market has witnessed approximately 50,000 bags in arrivals.
• Chilli seed varieties are experiencing a continuous decline in demand, leading to a persistent downward trend in prices. This downward price trend in chillies is expected to continue.
• Cumin market in Unjha keeps soaring due to high demand, export companies driving prices up despite poor production and fluctuating conditions.

News

• Khammam experienced heavy rainfall since yesterday.
• Sales are sluggish, and there is a lackluster demand for non-export-quality products.
• Following a rainfall delay of approximately 20-25 days, farmers initiated their nursery activities in all chili cultivation areas.
• Even though the monsoon season is underway, the sales of red chilli here have remained sluggish. As a result, the price of red chilli number 334 has stayed at the previous level.In the upcoming one or two days, the availability of red chili might remain limited.

OFB’s Opinion

• Considering the current sales pace and lower trends in prices, it might be worth keeping an eye on the situation in the ongoing week to see if these trends persist.