Dear Client,
Please find below the latest market intelligence for the Indian Spice sector as of
20 August 2026.
The Kirana market is experiencing mixed sentiment, with some commodities like Kalonji, Turmeric, and Makhana seeing price declines due to reduced demand. Conversely, imported nuts such as Almonds, Almond Giree, and Pistachios have seen firming or rising prices, despite some weaker import sales, likely driven by renewed demand.
📉 Nigella Seeds Soften on Weak Demand
Kalonji prices have softened due to decreasing demand in the Kirana market. This indicates a bearish trend for the commodity. Market participants should note the current subdued sentiment.
📊 Turmeric: Fluctuating but Holding Strong
After experiencing a recent bullish phase, Turmeric prices are now showing signs of sluggishness. This softening is attributed to weaker demand. Despite some previous uplift, the market anticipates continued subdued prices in the immediate future, with demand from stockists also easing.
📉 Coriander: Limited Volatility with Sluggish Outlook
Coriander market activity is currently subdued, with farmer sales remaining low in key producing states. Despite recent good monsoon rains, market arrivals are below normal, which has kept prices relatively firm. Export data indicates a drop in volume but an increase in value, suggesting higher unit prices. However, the market is currently showing sluggishness, with limited upward momentum expected in the near term.
🚢 Nutmeg Stagnant Amidst Shipping Delays
Nutmeg prices remain sluggish due to the partial resumption of ship movements from the Hormuz Strait via Oman. Prices are holding steady at previous levels, reflecting the subdued activity. A lack of engagement from exporters could further influence market sentiment, with continued sluggishness anticipated in the short term.
⚓ Poppy Seeds Stable Despite Shipping Challenges
Poppy seed prices are stable, holding at previous levels, despite the partial resumption of ship arrivals from the Hormuz Strait (currently only from Oman). While potential import challenges could influence market sentiment, there is no expectation of a significant price decline in the immediate future. The market maintains a steady outlook.
🌿 Large Cardamom Holds Firm, No Downturn Expected
Large Cardamom prices remain firm, showing no change from previous closing levels for the Kanchikut variety. Despite a recent small uptick, average auction prices have been stable. Market sentiment appears unaffected, and no price decline is anticipated in the coming days, suggesting continued stability.
↔️ Cumin Stability: No Upside Expected
Cumin arrivals in major markets are reported to be lower than normal. Despite this, and subdued demand, prices are holding at previous day’s levels, indicating a neutral sentiment. Active futures contracts have softened, which could signal broader market sentiment. No significant upward or downward movement is expected in the immediate future.
🌾 Fenugreek Seeds Stable as Monsoon Season Continues
Fenugreek seed prices are stable, holding unchanged at previous levels despite the ongoing monsoon season. Arrivals in producing regions and prices are consistent with previous reports. While the consumption season could affect market sentiment, there is no fear of a decline in the coming days, suggesting continued steadiness.
📈 Dry Ginger Shows Firmness
Dry Ginger (Saunth) prices are showing general firmness across the market. Medium and premium varieties are experiencing slight upticks, indicating a bullish underlying trend. This suggests sustained demand for the commodity.
🔥 Red Chilli Market: Mixed Trends
The Red Chilli market is experiencing mixed but generally firm trends. Varieties like 334 No. and 341 No. are showing strength, while other types such as Fatki and Teja also command good demand. Overall, prices are holding steady or seeing slight increases, reflecting a resilient market sentiment and sustained demand.
💎 Saffron Prices Remain Robust
Saffron prices for both Iranian and Kashmiri varieties are maintaining high levels in the market. This robust positioning indicates strong underlying market stability. Consistent demand continues to support these premium spice prices.
🌶️ Black Pepper Steady
Black Pepper prices, including varieties like Markara and Atam, are holding steady across various grades. No significant fluctuations are noted in the market. This suggests a stable demand-supply equilibrium for the commodity.
💚 Green Cardamom Prices Show Strength
Green Cardamom prices are demonstrating strength across different grades. Varieties such as Mukhkhula and various millimeter sizes are performing robustly. This consistent strength indicates solid demand and a firm market for the spice.
🌿 Cloves Market Remains Firm
Clove prices are holding firm across the market. Market sentiment suggests ongoing stability, with no immediate indications of a price decline. Demand appears consistent, maintaining current levels.
🍂 Cinnamon Prices Stable
Cinnamon prices are noted to be stable in the market. This indicates a balanced demand-supply situation for the commodity. No significant price movements are currently observed.
🌟 Mace Market Shows Stability
Mace prices are stable, supported by good demand in the market. This consistent interest suggests a robust and steady market for the spice. No major fluctuations are anticipated.
🌱 Long Pepper Firm
Long Pepper prices are holding firm in the market. The commodity is experiencing stability with no significant changes observed. This suggests a balanced market outlook.
⭐ Star Anise Holds Steady
Star Anise prices are stable across the board. The market is showing consistency in demand and supply. No immediate price changes are expected.
🍃 Fennel Seeds: Mixed Trends
Fennel seed prices are showing mixed but generally firm trends. While some varieties, like Moti and Badiya, are performing strongly, others maintain stability. Overall, the market remains resilient, reflecting consistent demand.
🌿 Ajwain Market Firm
Ajwain prices are robust across different varieties, including Jawara, Karnool, and Jamnagar. This widespread strength indicates consistent demand and a firm market sentiment. The outlook remains steady.
🍂 Fenugreek Leaves Show Strength
Fenugreek leaves prices, including both normal and Badiya grades, are showing significant strength. This upward trend suggests robust demand coupled with potentially limited supply. The market is experiencing a strong bullish momentum.
🔑 Key Takeaways
for Buyers
- Market Monitoring & Diversification: Maintain close watch on specific commodity trends due to varied demand-supply dynamics across the spice categories. Consider diversifying holdings to mitigate risks from localized price fluctuations.
- Import Strategy Review: Re-evaluate import schedules and sourcing strategies for commodities affected by shipping route changes, particularly for those impacted by Hormuz Strait movements. Anticipate potential shifts in landed costs.
- Demand-Supply Analysis Focus: Prioritize in-depth analysis of commodity-specific demand and supply fundamentals. Adjust procurement and sales targets based on underlying market drivers, whether they are consumer demand or crop conditions.
- Crop Outlook Assessment: Closely monitor monsoon progress and crop health in major producing regions for spices like Coriander and Fenugreek. This will provide early indicators for future supply and price trends.
- Futures Market Watch: Keep a close eye on futures market trends for key commodities like Cumin and Turmeric, as these can signal broader market sentiment and potential spot price movements.
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