Spice prices in India skyrocket amid lower output and high demand
India
Published Sep 19, 2022
Tridge summary
The decline in production against a high domestic demand has led to a double-digit increase in mandi prices of spices, including cumin (jeera), coriander (dhania), black pepper, and dry chili, in the last year.
Original content
Decline in production against a high domestic demand has led to a double-digit increase in mandi prices of spices, including cumin (jeera), coriander (dhania), black pepper and dry chilli, in the last one year. With the exception of turmeric, for which inflation was 6.7% on year in August, all other spice varieties reported double-digit inflation — dry chilies (23.4%), coriander (18.9%), cumin (18.3%) and black pepper (14.7%). Traders say while turmeric prices have stabilised since its peak earlier this year, mandi prices of all other spice varieties are expected to rise further, because of supply constraints caused by lower production and robust global demand driving exports. The mandi price of cumin (jeera) is currently ruling around Rs 4,700 per 20 kg bag at Unjha mandi (Gujarat), the largest market of the spice in the world, against a price range of around Rs 2,400-2,600 per 20 kg bag that prevailed a year ago.Traders are expecting the prices to further surge and touch Rs ...
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