Dear Client,
Please find below the latest market intelligence for the Indian Spice sector as of
27 August 2026.
Firmness observed in Nutmeg, Cloves, and Chironji, while Turmeric, Makhana, and Large Cardamom show softness.
Dry Ginger: Nigerian Supply Woes & Export Pressure! 📉
Dry ginger prices saw a slight increase due to limited fresh ginger supply and a weaker stock position, but are expected to remain range-bound in the near term. While domestic production was good, strong export demand is keeping availability tight, exacerbated by reports of a 50% drop in Nigerian ginger output. Recent data shows a significant decline in India’s dry ginger exports in the current fiscal year, indicating continued limited movement.
Cloves: Supply Shortages Fueling Price Surge! 🚀
Global clove production, particularly from key regions like Madagascar and Indonesia, is significantly down by an estimated 50% due to adverse climate and geopolitical issues. Freight charges have also surged by 25-30%, making imports expensive. Domestic stock is dwindling as traders have maintained lean inventories for the past three years. This critical supply-demand imbalance, compounded by high international prices and a stronger dollar, suggests a strong bullish trend with further price increases anticipated.
Nutmeg: Steady After Recent Gains! ⏳
Nutmeg prices are currently stable after a recent upward trend, holding firm at previous levels. The market has seen some quietness following a notable price increase. With the Onam festival ongoing in Kochi, normal business activity is anticipated. The near-term outlook suggests that nutmeg prices will likely maintain their current firmness.
Turmeric: Bearish Trend Continues! 🔻
Turmeric sales are experiencing continued sluggishness following recent price declines. The Erode market remains subdued, with prices holding at previous bound levels despite moderate arrivals. The Eid festival in Erode contributed to the dull market sentiment, and active futures have also shown a slight dip. The overall outlook suggests that turmeric prices are likely to remain bearish in the short term.
Poppy Seeds: Stable Despite Geopolitical Moves! ⚓
Poppy seed prices are holding steady despite Iran’s recent approval to collect toll taxes on ships passing through the Hormuz Strait, which could impact trade routes. While business activity remains sluggish, prices have not shown any significant movement, maintaining previous levels. The short-term outlook suggests that poppy seed prices are unlikely to decline further, indicating stability.
Coriander: Price Stability Amid Sluggish Sales! 🌿
Coriander prices are maintaining stability after a recent upward movement, despite sluggish sales. Arrivals in key markets like Rajasthan’s Baran are moderate, and prices are holding at previous levels. Although stockist selling is weak, active futures have shown an increase, suggesting underlying support. The near-term outlook indicates that coriander prices are not expected to decline.
Large Cardamom: Weak Sales & New Crop Outlook! 📉
Large cardamom sales have seen a notable decline following recent price increases, with the Kanchicut variety experiencing a price drop. The market has been notably quiet after its previous rise. With the new crop anticipated next month, there is an expectation that market dynamics could be further impacted, suggesting no significant long-term price appreciation for large cardamom.
Cumin: Range-Bound Trading Continues! ↔️
Cumin arrivals in the Unjha market were modest, and despite this, buyer support was intermittent, leading to a slight improvement. However, sluggish buying interest at improved price levels has kept cumin prices stable at their previous bound. Active futures have shown a slight decline, indicating a lack of strong bullish momentum. The near-term outlook suggests cumin will likely trade within a limited range.
Fenugreek Seeds: Stable Amidst Harvest Season! 🌾
Fenugreek seed sales are currently sluggish despite the ongoing harvest season, with prices remaining stable at previous levels. Arrivals and prices in the producing regions have shown consistency. While the monsoon season could potentially influence market dynamics, the immediate outlook suggests no anticipated downturn or significant sluggishness in prices, maintaining a stable trajectory.
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