Dear Client,
Please find below the latest market intelligence for the Indian Spice sector as of
15 October 2026.
The almond (kernel) market has corrected sharply after its recent rally. Heavy selling by large importers, with a large volume of containers already at Indian ports, is pushing prices down. About 60% of Diwali-season sales are done, and the rest should finish this month, after which demand is likely to cool. California almond prices may soften further, and the market could weaken more in November. Meanwhile, spices such as coriander, cumin and turmeric have turned firm on weak selling and better demand.
🌿 Cumin Gains Further Momentum as Arrivals Thin Out
Cumin arrivals in the Gujarat and Rajasthan mandis have fallen compared with earlier. Good demand from exporters and local buyers is lifting the market, especially for better-quality lots. Selling pressure has eased in the forward market, and packers are buying on dips, which supports sentiment. Light-quality material is also rising, and further upside is expected. Traders can continue to trade actively at current levels.
🟡 Turmeric Firms Up on Weak Selling and Revived Demand
Turmeric prices rose as buyers came back to the market and sellers held back. Erode-type turmeric also moved to higher levels, reflecting a firm sentiment in the spot market. Retail and bulk consumer demand has improved ahead of the festival season. The near-term outlook is positive as long as selling stays muted, along with coriander and cumin.
🌱 Coriander Rallies as Selling Dries Up
Coriander prices jumped sharply as sellers stayed away and demand picked up. Quality green-type coriander has reached the upper end of its price range. Buying interest is strong, which has lifted sentiment across the market. Unless fresh supplies arrive, the firm tone is likely to continue in the short term.
🌶️ Red Chilli Looks Set to Firm Up
Arrivals in the Guntur belt have dropped, so prices there are turning firm. Trade in Delhi and other northern mandis is weak because of the Navratri fasting period. However, the quotes for incoming lots are quite high, and good-quality 334 variety stock has strengthened. Teja, fulcut and Dandidar varieties are also showing firmness. The market is expected to strengthen once festival-related demand slows and buying returns.
🌸 Cloves Stay Firm on Higher Origin Prices and Festive Buying
Cloves have a bullish undertone, with Indonesia and Madagascar prices moving up. Importers’ warehouses have seen only thin offers over the last four to five days, and stockists are not selling at lower levels. Madagascar prices remain strong. Importers and outside traders hold limited stock, even as Diwali buying is starting. The market is likely to remain strong in the near term.
💚 Small Cardamom Under Pressure from Heavy Auction Arrivals
Arrivals of small cardamom at auction centres have risen sharply, and prices have slipped over the last two to three days. Export demand looks good, but domestic consuming industries are not buying because they find the ready crop unfavourable. The market has started to ease again. A quick rebound looks unlikely, and prices may stay soft or range-bound in the near term.
⚫ Black Pepper Holds Steady Despite Weak Demand
Consumer demand for black pepper is very weak, and high-priced stock is stuck in warehouses. Reports of hollow (pole) berries in the incoming crop are also circulating. Vietnamese pepper is quoted high and is hard to source. Prices for Malabar-quality pepper are firm and have limited room to fall. The market could turn profitable for holders later.
🫚 Dry Ginger Stays Subdued as Old Stock Weighs
Sellers are putting pressure on old dry ginger in the Sagar and Cochin belt. The new crop is ready, but its arrival is still some way off. Consumer demand is weak across the board, which is keeping prices tied down. Larger old-stock arrivals are expected this season. Traders are advised to avoid aggressive trading at this stage.
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