Dear Client,
Please find below the latest market intelligence for the Indian Spice sector as of
14 October 2026.
Improved buying interest lifted nutmeg, black pepper and cloves in the spice market. Turmeric and cumin softened on profit-booking and fresh arrivals, and saffron and mace stayed soft because buyer support was weak. Melon seeds and California almonds also declined on weak demand, while the festive and wedding season continues to support sentiment in selected spices.
🌰 Nutmeg Turns Firm as Rally Cools Off
Nutmeg moved higher today, but the pace of the rise has already slowed. Continuous new arrivals from producing regions have lifted supply and stock availability, so the market is looking for stability. Importers and large traders had stocked up at higher rates and are now selling old stock to book profits. With the new crop stock now large, mandis are seeing more supply, which is keeping prices soft in the near term. No sharp rally is expected.
🌿 Cloves Gain on Buying Revival and Lighter Import Selling
Cloves strengthened as buyers returned to the market and importers cut back their selling. Better inquiries from the trade supported the move. The festive and wedding season is adding to demand. Sentiment is positive, and the market is likely to stay firm while import offers remain limited.
⚫ Black Pepper Climbs on Rising Inquiries
Black pepper moved up as inquiries picked up and buying interest improved in the domestic market. The gains were steady rather than sharp. Seasonal consumption ahead of the festive period is supporting sentiment. The outlook is firm with a mild upward bias, although quick spikes are unlikely.
🌸 Saffron Stays Soft Without Demand Support
Both Iranian and Kashmiri saffron eased slightly because there was no upward movement in buying. Customer support was missing and trading was limited. Sentiment is cautious and the market looks range-bound with a soft bias. A pickup in festive and wedding orders could revive demand later.
🟡 Mace Weakens as Buyer Support Fades
Yellow mace turned weaker after buyer support was missing from the market. The recent firmness in nutmeg has not carried over to mace. Traders are buying only for immediate needs. Prices are likely to stay soft unless new demand emerges.
🟠 Turmeric Cools Off After a Strong Rally
Turmeric eased after a long run of gains, as sellers booked profits. The day before, Erode-type turmeric had been rising on continued buying, but the supply pressure arrived today. Arrivals of new crop are lower and stocks of good-quality material are short. Key mandis such as Sangli and Nizamabad are seeing thin arrivals, and large stockists holding positions have also kept sentiment positive. Exports to China, Bangladesh, Turkey, Sri Lanka and Nigeria have increased and are lending support. The near-term outlook is for steady trade with scope for renewed gains.
🌾 Cumin Dips on Profit-Taking but Outlook Stays Bullish
Cumin softened after a recent surge, as weak buying and profit-booking weighed on prices. Arrivals in key markets such as Unjha are limited. Farmers and traders are holding stock in the hope of better prices. Rabi sowing in Gujarat and Rajasthan is due in October-November, and weather conditions are being watched closely. Strong demand from masala makers, local processors and stockists ahead of the festive and wedding season is supporting the market, so further strength is likely.
🌱 Coriander Strengthens on Thin New-Crop Arrivals
Coriander moved up as new-crop arrivals in large mandis such as those in Rajasthan and Madhya Pradesh were reported below normal. Stockists holding back material have also reduced supply in the market. Global supply is limited, and Indian coriander is attracting good international demand. Exports continue at a slightly slower pace because of the higher price levels, but exporters remain active. Further gains are possible in the coming days.
🍃 Fenugreek Seed Firm on Tight Stocks
Fenugreek seed rose on persistent demand from household and pharmaceutical users. Mandi stocks are low and buyers are cautious about the outlook. Arrivals of new crop in key producing states such as Rajasthan and Madhya Pradesh are reported to be lower. The trade is hoping for good returns in the current phase.
🌼 Poppy Seed Stays Under Pressure
Poppy seed remains sluggish after a recent slump. Turkish material is still holding steady near its earlier levels. Harvesting of the new crop began in March-April, and rising arrivals in mandis have kept pressure on rates. Imported stock is plentiful and supply has increased. Arrivals in major producing mandis such as Neemuch in Madhya Pradesh are normal. Festive demand at home is providing some support, but there is no sign of a recovery.
🟢 Large Cardamom Stays Firm as Festive Demand Builds
Large cardamom has firmed up after the earlier fall, with the new crop arriving steadily in mandis. Old stock is still available there. Demand has picked up strongly because of the October-November festivals and the start of the winter season, with masala companies, wholesale buyers and local markets stepping up purchases. Fresh crop arrivals from Nepal are delayed, so immediate availability in Indian markets is low. Big stockists are holding back material in the hope of better returns, so prices are rising slowly.
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