Dear Client,
Please find below the latest market intelligence for the Indian Spice sector as of
28 August 2026.
Mixed sentiments dominate the Kirana-Dry Fruits market; while cloves, mace (javitri), chironji, almonds, and raisins showed strength, large cardamom, small cardamom, turmeric, and walnuts experienced downward pressure.
🚀 Cloves: Firmness Persists Amid Supply Concerns
Cloves are experiencing sustained firmness due to severely impacted crops in key producing regions like Madagascar and Indonesia, caused by adverse weather. The weak Indian Rupee against the US Dollar has also significantly increased the landing cost of imported cloves. Market sentiment is further influenced by the availability of lighter quality imports, with an outlook suggesting continued firmness in the coming days.
✨ Mace (Javitri): Price Rise on Limited Movement
Mace (Javitri) has seen an increase in its price. Despite generally weak buying interest, limited availability or reluctance to sell by traders appears to be contributing to the upward price movement. The market is reacting to internal supply dynamics rather than robust demand, leading to this unexpected strength.
🌿 Coriander: Stockist Demand Fuels Price Hike
Coriander prices have surged, primarily driven by heightened buying activity from stockists in both the spot and futures markets. This strong accumulation by traders indicates an expectation of future price appreciation, thereby tightening available supply for immediate consumption. The market shows a bullish undertone due to sustained interest from stockists.
📉 Large Cardamom: New Crop Pressure Dents Prices
Large Cardamom prices have softened considerably. This decline is attributed to abundant existing stock in the markets combined with increasing pressure from new crop arrivals. The surplus supply is currently outweighing demand, leading to a bearish sentiment in the market.
🔻 Small Cardamom: Weak Demand & New Crop Weigh Down Prices
Small Cardamom prices are experiencing a downturn, marked by weak buying interest and profit booking. Recent auction data showed lower arrivals due to the Onam festival, yet average prices still fell, indicating persistent weak demand. New crop pressure is further impacting market sentiment, and no immediate signs of price recovery are anticipated.
🧭 Cumin: Profit Booking & Weak Buying Cap Gains
Cumin prices have retreated due to profit booking. Despite lower arrivals in key mandis like Unjha, weak buying interest continues to put downward pressure on prices in the spot market. Futures saw some earlier gains from stockist activity but are now expected to trade within a limited range, reflecting cautious sentiment.
💰 Turmeric: Profit Booking Leads to Price Softness
Turmeric prices have seen a decline, primarily driven by profit booking by traders. This indicates that market participants are capitalizing on previous gains, leading to increased selling pressure. Demand is currently insufficient to absorb this selling, resulting in overall price softness in the market.
🌶️ Black Pepper: Supply Concerns & Seasonal Sluggishness
Black pepper markets are experiencing mixed signals. Reduced rainfall in South India and a potential quarter reduction in production are tightening supply, while imports from Sri Lanka are also decreasing. Despite recent improvements in spot prices driven by tight supply and increased stockist buying, sluggishness persists due to the Onam festival closing major markets like Kochi. The short-term outlook suggests a firm undertone, though immediate activity might be slow.
🛡️ Fennel: Resilient Amid Slow Movement, Ginger Impact Looms
Fennel has shown resilience, with prices holding steady despite recent weakness and slow market movement. While festive holidays in major markets like Kochi are contributing to current sluggishness, there is no fear of a significant price fall. Market sentiment could potentially be influenced by any further price increases in ginger, suggesting a cautious but stable outlook.
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