Dear Client,
Please find below the latest market intelligence for the Indian Spice sector as of
28 October 2026.
Mixed sentiment across Kirana goods. Small Cardamom and Nutmeg prices saw an increase due to rising demand, while Turmeric softened on profit booking. Dry fruit markets also displayed varied trends.
🌰 Nutmeg: Strong but Stable Outlook
Nutmeg prices have shown recent gains. While continuous arrivals of new crops from producing regions ensure market supply, and significant existing stock was previously accumulated at higher prices, stability has now set in. Profit booking of older stock is currently observed in the market. The near future does not indicate further significant price increases.
🟢 Small Cardamom: Surging on Strong Demand
Small Cardamom prices have reached higher levels, driven by robust consumer demand and limited selling activity from stockists. Despite recent price increases, sellers’ reluctance to liquidate their holdings has supported the upward trend. This indicates strong underlying demand and constrained immediate supply in the market.
🧡 Turmeric: Firmness with Volatility Expected
Turmeric prices are currently showing a slight weakness after a significant rally. Despite this, market arrivals remain low, and old stock from previous years is steadily diminishing. Large traders and stockists are strategically holding back goods, contributing to a perceived supply shortage. Furthermore, new speculative trading in the futures market is causing notable price fluctuations. The near-term outlook for turmeric suggests a firm and volatile trend.
🖤 Large Cardamom: Bullish Outlook Ahead
New crops of large cardamom continue to arrive in the market, with older stock also readily available. Despite ample stock, prices are receiving support. A recent price softening was observed. Domestic demand is robust due to upcoming festivals and the onset of winter, leading to active buying from masala companies and wholesalers. A good crop is expected, and a bullish trend is anticipated in the near future.
🌸 Mace: Softening Due to Weak Demand
Mace prices have recently softened. This downward movement is primarily attributed to a persistent lack of demand in the market. Despite general market dynamics, the absence of robust buying interest has led to a noticeable decline in prices.
🌿 Coriander: Profit Booking Anticipated
Coriander prices are softening after an upward trend. Arrivals of the new crop in major mandis of Rajasthan and Madhya Pradesh are below normal, contributing to a supply deficit in the spot market. Global supply limitations are fueling strong international demand for Indian coriander, although high prices sometimes slow down exports. The market anticipates further softening and opportunities for profit booking.
poppy seeds Market: No Significant Decline Ahead
The poppy seeds market is currently dull, having seen a recent fall. However, despite increased new crop arrivals from March-April leading to higher supply, major traders and stockists are limiting their selling at lower levels. This strategic holding suggests that despite current softness and abundant imported material, a further significant fall in prices is unlikely in the coming days.
✨ Cumin: Bright Future Outlook
The cumin market recently experienced softness in the domestic spot market following a rally in the futures market. Weather and temperature inconsistencies before the October-November sowing season are causing uncertainty, leading to continued speculative trading in the futures market. Arrivals of cumin in major mandis across the country are low. Farmers anticipate even higher prices if weather conditions remain unfavorable or sowing is delayed. The future outlook for cumin appears bright.
☘️ Fenugreek: Price Rally Expected
Despite low existing stock, the fenugreek market currently experiences dull consumer demand. However, there is continuous underlying demand from both the domestic and pharmaceutical industries. New crop arrivals from major producing states like Rajasthan and Madhya Pradesh are low. Given the current supply situation and decreasing stock levels, traders anticipate a price rally and good profits in the coming days.
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