Dear Client,
Please find below the latest market intelligence for the Indian Spice sector as of
29 September 2026.
The Kirana market shows mixed trends; key spices like Large Cardamom and Cumin advanced on demand, while dry fruits such as Almonds and Walnuts softened due to weak importer activity.
Fennel: Export-Driven Strength Amid Supply Concerns 🌿
The market for fennel is displaying robust strength, primarily fueled by strong export demand which has tightened domestic availability despite a generally good production year. The monsoon season is concluding, but new crop delays in Kerala and weak international stocks, notably a significant production drop in Nigeria, are contributing to a bullish sentiment. While recent spot prices have stabilized after a rally, no immediate decline is anticipated, suggesting continued underlying strength.
Turmeric: Bullish Momentum, Targeting Higher Levels 🚀
After an initial price correction caused by large stockists, turmeric prices are quickly rebounding as major players re-enter the market at lower levels, indicating strong buying interest. Significant monsoon deficits and crop damage in key producing regions like Andhra Pradesh and Maharashtra are raising serious concerns for the upcoming harvest. Furthermore, late planting and increased cultivation of alternative crops suggest a potential 50% reduction in next year’s turmeric production. The market is expected to remain firm and could see substantial price appreciation.
Red Chilli: Price Stability, Limited Upside 🌶️
Following a recent price rally, the red chilli market has settled, with prices stabilizing at their previous levels. Arrivals in major mandis like Guntur are consistent, but subdued activity from exporters is limiting any significant upward momentum. The immediate outlook suggests a period of stability, with no substantial price increases expected in the short term.
Cloves: Persistent Sluggishness in Trading Activity 📉
The cloves market continues to experience sluggish sales and trading activity following a recent price downturn. Despite some lighter foreign quality, domestic prices remain comparatively high, which is impacting overall demand. This imbalance between price and demand contributes to a lack of active trading. The market is anticipated to remain dull in the immediate future.
Green Cardamom: Increased Arrivals Dampen Rally Prospects 📉
After a brief upward trend, the green cardamom market has softened, with prices stabilizing at prior levels. A significant surge in auction arrivals, combined with weak bidding, led to a decrease in average auction prices. This influx of supply is likely to suppress any further rallies. Consequently, no immediate price appreciation is expected in the spot market.
Black Pepper: Sustained Dullness Predicted Amid Import Worries 🌧️
Trading activity in the black pepper market remains sluggish, despite earlier minor improvements, with prices holding at previous levels. Stable arrivals in Kochi and unchanged prices indicate a lack of strong market drivers. Additionally, an anticipated increase in imports from Sri Lanka could further weigh on market sentiment. The short-term outlook suggests continued market dullness.
Cumin: Strong Upward Momentum Continues 💪
Cumin prices have shown a significant rebound after a recent dip, driven by renewed stockist interest and active futures trading. Arrivals in Ujha are consistent, coupled with an observable upward price trend, indicating robust market sentiment. This combination of factors points to sustained strength. The commodity is expected to maintain its firm position in the spot market for the immediate future.
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