Dear Client,
Please find below the latest market intelligence for the Indian Spice sector as of
1 October 2026.
Mixed trends prevail in the Kirana market, with Large and Small Cardamom, Cumin, Pistachios, and Almonds firming up, while Anjeer softens due to weak demand and selling pressure.
📈 Large Cardamom: Moderate Price Gains Expected
After a recent rally and slight improvement in sales, Large Cardamom prices have seen a moderate increase. The market anticipates further gradual price appreciation. However, despite good new crop expectations in both India and Nepal, the overall outlook for a sustained, long-term rally appears limited. Uncertainty related to the Hormuz Strait continues to impact trade, and while Nepalese imports are currently low, they are expected to increase, which could potentially cap future price surges.
⚖️ Nutmeg: Stagnant Demand & Stable Prices
Nutmeg prices remain steady after a recent softening. A lack of active participation from exporters is contributing to sluggish market activity and influencing overall sentiment. Despite previous fluctuations, the market is currently stable, with no clear indications of a significant price increase in the immediate future.
📉 Turmeric: Softening Trend with Limited Rally Potential
Following an earlier rally, Turmeric sales have slowed, leading to a price correction. Increased arrivals in key markets like Erode, combined with reports of continued softening, are maintaining a bearish sentiment. Weak stockist selling is also impacting futures contracts. Consequently, a prolonged upward price trend is not anticipated in the near term.
🚧 Poppy Seeds: Steady Prices Amidst Shipping Concerns
Poppy Seed prices are holding firm at previous levels after a recent decline. Disruptions in major shipping routes are creating potential challenges for imports, which could influence market dynamics. Despite these concerns, there is currently no expectation for further price softening in the immediate future.
💨 Coriander: Bearish Outlook on Weak Demand
Coriander prices remain under pressure at previous low levels following a recent softening trend. Weak demand and significant arrivals in Rajasthan markets are contributing to the bearish sentiment. Active futures trading is also reflecting the subdued interest from stockists, indicating no immediate signs of a price rally.
💪 Cumin: Strong Momentum Expected to Continue
Cumin has experienced further price appreciation, building on a recent rally. Substantial arrivals in Unjha are being met with robust buying from stockists, driving prices upwards. Strong performance in active futures trading reinforces positive market sentiment. The market is projected to maintain its firmness in the coming days.
🌧️ Fenugreek Seeds: Sluggish Market Post-Monsoon
Fenugreek Seeds are experiencing a sluggish market environment due to weak sales, especially as the monsoon season has concluded across most parts of North India. Arrivals and prices in major producing regions remain stable at their previous levels. The market is anticipated to remain subdued in the immediate future, with no indications of a strong rebound.
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