Dear Client,
Please find below the latest market intelligence for the Indian Spice sector as of
28 October 2026.
Mixed trends observed in the Kirana and Dry Fruits market; major spices generally softened while select dry fruits saw price increases due to varying demand dynamics.
Big Cardamom Bears Down 📉
Big Cardamom prices experienced a significant fall due to weak consumer support at elevated levels and active selling by stockists. Prices softened by ₹10-30 per kg. This downtrend reflects a broader lack of demand in the Kirana segment, pushing the commodity into a bearish phase with no immediate recovery anticipated.
Mace Market Softens ⬇️
Mace prices eased, dropping by ₹5 per kg, primarily driven by sluggish demand. The market sentiment for Mace remains subdued, reflecting the overall weakness observed across certain Kirana commodities. Without a pick-up in consumer interest, prices are likely to remain soft.
Coriander Sees Dip 🌿
Coriander prices witnessed a notable decline of ₹100 per quintal. This weakening is largely attributed to increased selling pressure from stockists. The market outlook for Coriander suggests continued softness in the short term, as supply outpaces the current subdued demand.
Saffron Outlook Grim: Production Woes 📉
Kashmir’s saffron farmers are highly concerned due to a significant reduction in anticipated yields this year. Unfavorable weather conditions, including a prolonged dry spell and insufficient winter snowfall, have severely impacted flowering. This adverse climate poses a substantial threat of heavy production losses, potentially leading to future supply tightening.
Clove Prices Surge on Global Supply Squeeze ⬆️
Clove prices are exhibiting strong momentum, with a notable increase. This bullish trend is primarily fueled by disrupted global supply chains, stemming from reduced production and adverse weather in key growing regions like Indonesia and Madagascar. Additionally, rising import costs are pushing domestic prices higher, signaling further increases.
Small Cardamom Shines Bright: Strong Demand, Tight Supply ✨
Small Cardamom prices are robust, driven by a surge in demand from local markets and speculators, coupled with limited arrivals at auction centers. Traders report low old stock, with fresh market arrivals being quickly absorbed. Reduced supply from Guatemala is also diverting international orders to Indian exporters, reinforcing a strong market outlook.
Black Pepper Rallies Amid Supply Shortage 🌶️
Black Pepper prices are experiencing a sharp upward trend, with a significant rise within the past week. This strength is primarily due to consistently low daily arrivals in major producing markets like Kerala and Karnataka, creating a supply deficit. Furthermore, increased import costs and a weakening Rupee are contributing to higher domestic prices, indicating continued strength.
Dry Ginger Heats Up: Export-Driven Scarcity Ignites Prices 🔥
Dry Ginger prices are showing substantial strength, with a recent sharp increase per quintal. This bullish movement is a direct consequence of significantly reduced domestic stock, primarily caused by increasing export volumes in recent years. The current imbalance between limited supply and strong demand is providing robust support for prices, with further upward potential.
Cumin Firms Up: Sowing Uncertainty Fuels Volatility 🌱
Cumin prices have firmed up after an initial softening, influenced by futures market activity. The market is currently experiencing uncertainty surrounding weather and temperature conditions for the upcoming Rabi sowing in Gujarat and Rajasthan. This ambiguity, coupled with farmers and traders withholding stock in anticipation of better prices, is contributing to limited arrivals and sustained market strength.
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