The upward price trend of Indian spices have persisted in Aug-23. Coriander, for instance, has witnessed a 38% MoM price increase reaching USD 0.4/kg in W4 Aug-23. Similarly, the wholesale price of capsicum has experienced a surge of 79% MoM, reaching USD 0.34/kg. The price of curry in India has also demonstrated an upward trend, rising by 46% MoM to USD 0.38/kg ending in Aug-23.
This price escalation within spices products can be primarily attributed to a decrease in crop yield resulting from unfavorable weather conditions across various regions of India. Adverse weather patterns, including irregular rainfall and extreme temperatures, have hampered agricultural productivity, thereby impacting the supply of these essential culinary components.
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