Dear Client,
Please find below the latest market intelligence for the Indian Spice sector as of
19 October 2026.
Spice markets turned firm across the board. Cumin, turmeric, fennel, coriander, ajwain and fenugreek all moved higher on thin arrivals and weak selling by holders. Demand is building ahead of Diwali and the winter season. Almond kernels were the only soft segment, and they sit outside the spice basket.
🟡 Turmeric Rally Gathers Pace, More Upside Likely
Turmeric has risen steadily for several weeks. Erode-type and Salem-type qualities hit fresh highs after a further sharp jump. Arrivals in mandis are very thin, and old stock has been shrinking for the last few years. Big traders and stockists are holding back supply because they expect prices to keep rising, which has tightened availability. Futures have also rallied, forcing exchanges to impose extra margins. The sentiment is bullish, and further gains are possible in the near term.
🌿 Cumin Stays Bullish on Scarce Premium Supply
Cumin saw another sharp rise in the domestic spot market, led by Europe-quality grades. Arrivals at Unjha and other mandis are limited, and premium-quality seed is now very scarce. Farmers in Gujarat and Rajasthan are holding their stock in the hope of better rates, so selling pressure is low. Traders and buyers are active at lower levels because of festival-season and forward demand. Futures and local mandis are both trending up, and another leg of gains is expected in the coming days.
🌶️ Red Chilli Consolidates at Firm Levels After Recent Jump
Red chilli prices are firm after a recent sharp rally and have eased slightly, but they are holding near their earlier highs. Arrivals of good-quality chilli at major mandis such as Guntur and Khammam are thin. Buyer support has been lacking, which has kept rates range-bound. Traders say carryover stock in cold storages and warehouses is lower than last year. The market is expected to stay firm and profitable for holders in the coming days.
🌱 Coriander Remains Profitable on Tight Arrivals
Coriander prices rose on a sharp pick-up in buying from masala companies, blenders and wholesale buyers. They are preparing for Diwali and the coming winter season, and are lifting good-quality material from mandis on all sides. Arrivals in key producing regions and mandis have fallen sharply. New-crop arrivals are almost over, so the market depends mainly on old stock. Further gains are likely in the days ahead.
🌾 Turmeric-Season Strength Spreads to Fennel, Fenugreek and Ajwain
Fennel, fenugreek and ajwain all moved higher as demand rose and arrivals stayed short. Fenugreek firmed noticeably on the lack of supply in mandis. Buying interest is strong ahead of the festival and wedding season. Holders are reluctant to sell at current levels, which is adding to the firm tone. The outlook stays positive while arrivals remain limited.
⚫ Black Pepper Firm on Costlier Imports and Strong Demand
Black pepper is showing strength, following a recent rise in prices. Daily arrivals and supply at Kochi and other major mandis have become quite limited. Farmers and local traders are holding their remaining crop in the hope of higher rates, which is supporting the market. Imported pepper has become costlier because of the rupee’s position against the dollar and higher landed costs. This has strengthened demand for Indian pepper and kept domestic prices firm.
🟢 Large Cardamom Soft, but Downside Looks Limited
Large cardamom turned slightly soft after the recent rise. Fresh-crop arrivals keep coming to mandis, and old stock is still available. Lack of buyer support has pulled quotes lower in the lower-priced grades, and Sikkim hubs such as Singtam and Siliguri also saw declines. Demand for the festivals of November-December and the start of winter should support the domestic market. No major fall is expected, and long-lasting gains are also not visible at present.
⚪ Poppy Seed Weak but Unlikely to Break Down
Poppy seed is subdued, with the market sluggish after a recent correction. Turkish-origin material is holding at its earlier levels. The new crop started arriving in March-April, and larger arrivals in mandis have put pressure on rates. Even after a marginal improvement, large stockists and farmers are not selling in panic at lower prices. Producers and traders are releasing stock slowly while waiting for better festival demand and the coming season, so the floor is firm. A sharp recovery is not expected in the near term.
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