Dear Client,
Please find below the latest market intelligence for the Indian Spice sector as of
09 November 2026.
The spice market is experiencing varied movements, with significant upward trends noted in Large Cardamom, Red Chilli, Turmeric, Cumin, Coriander, and Ajwain. Conversely, Almonds and their kernels are witnessing a downturn.
Green Cardamom: Large Variant Sees Resurgence! 📈
After initial mid-week softness due to new crop arrivals and existing stock, Large Cardamom prices rebounded strongly by week-end. Customer support is gradually strengthening, indicating a positive shift in market sentiment despite ample supply. The market shows resilience, finding support at current levels.
Green Cardamom: Bullish Outlook Amid Supply Shortage! 🚀
Small Cardamom prices registered a strong increase this week. A 25-30% reduction in crop yield is reported due to adverse weather conditions and insufficient rainfall during the early growing season. With limited old stock and constrained new crop arrivals, traders and stockists are placing higher bids, driving up prices. Festive and winter demand is rapidly accelerating, suggesting a continued upward trend for cardamom in the coming days.
Red Chilli: Sustained Strength Expected! 🔥
Red Chilli prices are currently firm, having recently seen a significant rise. Adverse weather, including untimely and heavy rainfall in key producing states like Andhra Pradesh, Telangana, and Karnataka, has severely impacted crop growth and sowing, leading to historically low old stock in mandis and cold storage. Despite sluggish demand from common buyers, limited supply and strong buying by masala companies are expected to keep prices robust.
Turmeric: Intermittent Strong Selling Anticipated! 🌟
Turmeric has experienced severe crop damage due to drought, with 80% of old pipeline stock depleted. Strong stockist buying led to a price circuit, and future harvest (2025 crop) is selling at high levels. Despite some relief from recent cyclone activity, production is projected to decrease by 35% (originally 50%). Limited stock and delayed planting suggest continued firm prices, though increased maize and soybean cultivation might prevent panic buying.
Cumin: Set for Further Ascent! 🚀
Cumin prices are soaring, supported by bullish futures and strong domestic spot market activity. Arrivals in major mandis in Rajasthan and Gujarat are consistently low, leading to reduced market supply. Farmers and traders are actively holding back stock, anticipating better returns. With the festive and wedding seasons underway since October, sustained demand is expected to push prices even higher in the near future.
Coriander: Old Stock Depletion Fuels Price Rise! ⬆️
Coriander prices have seen a significant increase as old stock in major producing states like Gujarat, Madhya Pradesh, and Rajasthan is rapidly depleting. Despite rising prices, demand continues to outpace available supply. This scarcity in older inventory is contributing to the overall upward movement in the market.
Ajwain: Scarcity Drives Prices Upward! 📈
Ajwain prices have surged due to a severe shortage of both new and old crop arrivals in the markets. The limited availability is creating significant pressure on supply, leading to a firming up of prices. Buyers are facing challenges in sourcing sufficient quantities, indicating a strong market trend in the near term.
Mace: Export Potential Boosts Prices! 🌍
Mace prices are currently elevated, driven by high rates in major producing countries like Indonesia and Sri Lanka. This strong international pricing scenario is significantly enhancing India’s export potential for Mace. The increased demand from global markets is contributing to the firming trend in domestic prices.
Cloves: Bullish Momentum Continues! ⬆️
Cloves are exhibiting strong market fundamentals, marked by significant exports from international markets and robust domestic demand. Heavy imports from key producing nations like Madagascar and Indonesia are continuously arriving at various ports, yet domestic stock remains low. Wholesale prices are anticipated to maintain their bullish trajectory in the coming period.
Black Pepper: Market Set to Sparkle Further! ✨
Black Pepper prices are currently displaying strong upward momentum. Daily arrivals and supply are notably low in Kochi and other primary mandis, as farmers and local traders are withholding stock in anticipation of higher profits. The depreciation of the Rupee against the Dollar, coupled with rising import costs, is making international black pepper more expensive, ensuring a continued strong market outlook.
Dry Ginger (Saunth): Profitable Prospects Ahead! 💰
Indian Dry Ginger continues to see sustained demand in international markets, while global supply has tightened due to reduced production in major countries like Nigeria. This scarcity, combined with rising domestic buying from large stockists and traders at lower levels, has driven prices up significantly. The ongoing demand from the winter season and Ayurvedic food industry suggests a positive and potentially higher price trajectory.
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