Dear Client,
Please find below the latest market updates for the Indian Spice sector as of
27 May 2026.
The market opens with a soft undertone as Kalonji and Large Cardamom register price declines due to weak demand, while Coriander shows positive signs of recovery on limited spot market supply. Meanwhile, non-spice dry fruits and coconut products remain generally weak.
Cumin Bottoms Out with Hopes of Pre-Monsoon Demand Recovery 🌾
Wholesale prices of cumin have likely touched their bottom level, significantly reducing the likelihood of any further bearish trends. Market arrivals in Unjha have dropped substantially to lower levels as farmers restrict sales due to unattractive prices. While international demand from major buyers like China and Bangladesh remains sluggish, upcoming pre-monsoon domestic buying is expected to provide strong support. Additionally, lower crop production estimates from Gujarat are lending underlying support to the market sentiment.
Small Cardamom Subdued Despite High Heatwaves and Falling Arrivals 🟢
Trading in small cardamom remains sluggish despite extreme summer heatwave conditions and lower arrivals in major auctions. Auction average prices have witnessed a downward trend due to weak buying interest from stockists and exporters. Market sentiment remains highly cautious, with no immediate price spike anticipated in the near term. Buyers are advising a wait-and-watch approach until domestic consumption picks up post-summer.
Red Chilli Holds Steady Amid Bareilly Crop Arrivals and Guntur Holidays 🌶️
The red chilli market experienced a quiet trend as new crop arrivals from Bareilly commenced, keeping wholesale prices stable after a recent decline. Guntur markets are currently closed for summer holidays, with trading activities expected to return to normal by mid-June. Due to the temporary lull in spot markets, prices are projected to remain steady in the immediate term. Traders anticipate no major upward movement until the primary trading hubs reopen fully.
Nutmeg Eyes Geopolitical Relief; Kerala Arrivals Set to Rise 🌰
Domestic nutmeg prices have stabilized at lower levels, but traders expect a surge in Middle East export demand if geopolitical tensions ease and shipping routes like the Hormuz Strait reopen. Currently, export activity is highly disrupted by ongoing Middle East conflicts and elevated shipping costs. On the supply side, recent rainfall in Kerala is expected to accelerate new crop arrivals, which may keep prices under pressure if export avenues remain blocked.
Black Pepper Flat as Geopolitical Uncertainties Dampen Export Hopes 🖤
Black pepper prices remained stable at previous levels amidst slow domestic trade and weak demand from the Middle East. Recent news of renewed geopolitical tensions has overshadowed brief hopes of stability, keeping international buyers cautious. Spot arrivals and prices in Kochi remain steady, matching the slow pace of market activities. Analysts expect the market to remain soft with no immediate signs of a price hike in the coming days.
Large Cardamom Slips Lower on Sluggish Demand and Stockist Offloading 🎴
Large cardamom prices have registered a downward correction due to weak retail demand and increased selling pressure from stockists. Spot market activity remains quiet with buyers purchasing only on a hand-to-mouth basis. The lack of active institutional and marriage-season demand has further weighed on market sentiments. The short-term outlook remains bearish to stable until buying momentum revives.
🔑 Key Takeaways
for Buyers
- Accumulate Cumin on Dips: With cumin prices bottoming out and arrivals declining in Unjha, buyers should accumulate stock before pre-monsoon demand triggers a market recovery.
- Hold Large Cardamom: Prices have corrected due to stockist selling and weak immediate demand; wait for the market to stabilize before making bulk purchases.
- Monitor Nutmeg Exports: Keep a close eye on Middle East geopolitical developments and the potential opening of the Hormuz Strait, which could rapidly boost export demand.
- Wait and Watch on Cardamom: Despite lower auction arrivals, small cardamom remains weak due to sluggish demand. Avoid aggressive buying until domestic retail demand revives.
- Maintain Lean Chilli Inventory: With Bareilly arrivals starting and Guntur closed until mid-June, expect range-bound prices. Maintain basic inventory without over-stocking.