OfBusiness Spices Dailies

24^th May’23

Price

• As is customary, the Warangal market is closed on Wednesdays. However, trading will resume tomorrow for both Byadigi and Warangal.
• The cumin market in Unjha continues to experience a high trend, with prices trading around Rs. 400+. In the latest market closing, the bold quality market closed at Rs. 454/kg. There have been ongoing price fluctuations in the market over the past few days.
• Yesterday’s fennel prices remained stable with slight fluctuations in the market, closing at Rs. 275/kg. This trend of fluctuation has been ongoing for the past few weeks.
• Yesterday’s closing market saw stable dill seed/ajwain prices, with bids at Rs. 157/kg.
• Ajwain prices have been consistently stable and trending high. In yesterday’s market, the closing price for ajwain was Rs. 160/kg.

Demand and Supply

• After the holidays, trading in Guntur’s cold storages is driving prices higher.
• Chilli prices in cold storages are rising as anticipated. While some FMCG companies delayed their purchases during the holidays, a few companies have begun buying stocks based on their needs.
• Moisture is no longer a concern for the stocks stored in cold storage; buyers now primarily focus on aflatoxin levels and overall quality of the chillies.
• Cumin prices have been steadily rising over the past few days, reaching a price of Rs. 500+ recently. It has been bid at the highest price of the season in recent times. However, the market has experienced fluctuations in prices due to varying demand and quality. It is expected that the market will continue to rise in the coming days due to increased demand.

News

• Guntur is experiencing higher daytime temperatures, followed by rainfall in the evenings.
• Farmers are demanding slightly higher prices for their produce in cold storages compared to the usual prices.
• Farmers in cold storages are facing additional expenses such as cold storage fees and other associated costs. They are hoping to receive higher prices for their produce to cover these expenses effectively.
• Farmers are demanding a favorable price for their chillies in cold storage to make some profit during this crucial period. Due to the unfavorable climate for post-purchase processes, buyers are being selective and cautious in their purchasing decisions, leading to a slower pace of buying.

OFB’s Opinion

• It is noticed that prices of various varieties have experienced slight fluctuations in the recent market closing. Some varieties have observed marginal increases. Teja variety, on the other hand, has remained stable with satisfactory quantities.
• As a suggestion, there has been a gradual increase in buying activity in the cold storages of Guntur. Considering the demand, it might be beneficial to consider a price hike of an additional Rs. 20 for all the popular varieties.