Quick tabular summary:
Metric | Change(2024 vs 2023) |
Cumin | |
Area under cultivation | +63.4% (773000 ha to 1264000 ha) |
Average Yield | +4.1% (Kg/ha) |
Production | +70% (333,000 tons to 566,000 tons) |
Coriander | |
Area under cultivation | -26.4% (495,000 ha to 364,270 ha) |
Average Yield | Marginally lower |
Production | -28.6% (649,920 ha to 463,880 ha) |
Fennel | |
Area under cultivation | +118% (90,000 ha to 197,000 ha) |
Average Yield | -12% (1228 Kg/ha to 1077 Kg/ha) |
Production | +91% (111.14 ha to 212.2 ha) |
Cumin:
Expansive Growth in Cumin Cultivation: The total area devoted to cumin seed cultivation in Gujarat and Rajasthan has seen a remarkable surge, increasing by an impressive 63.4% from 773,000 ha in the previous year to a substantial 1,264,000 ha.
Enhanced Yields: Average yields have experienced a positive upswing, rising by 4.1% (Kg/ha) compared to the previous year.
Bountiful Harvest: The synergy of expanded cultivation and improved yields has led to a substantial surge in cumin production, recording a 70% increase from 333 thousand tons to a robust 566 thousand tons.
Coriander:
Contrasting Trends in Coriander Cultivation: The overall area allocated for coriander cultivation has undergone a noticeable contraction, decreasing by 26.4% from 495 thousand ha to 364.27 thousand ha.
Subdued Yields: Although the average yields have seen marginal reductions, the decline is offset by other factors.
Decline in Production: The combined impact of reduced cultivation area and somewhat lower yields has resulted in a 28.6% decrease in coriander production, falling from 649.92 thousand ha to 463.88 thousand ha.
Fennel:
Explosive Growth in Fennel Cultivation: The nationwide cultivation of fennel seeds has witnessed a staggering increase, soaring by 118% from 90 thousand ha to an impressive 197 ha.
Varied Yields: While the overall average yields have experienced a slight dip of 12% from 1228 Kg/ha to 1077 Kg/ha, other factors have contributed to the upward trend.
Surge in Production: Fuelled by robust sowing efforts, fennel production has surged by 91%, marking a significant rise from 111.14 ha to 212.2 ha compared to the previous year.
Market Outlook
Cumin:
Mid-March marks the readiness of Gujarat's cumin crop, followed by the initiation of Rajasthan's crop. Anticipating a substantial harvest, reports suggest that prices are expected to maintain stability throughout March, owing to robust demand in the market. This favourable demand-supply dynamic serves as a contributing factor in the price equilibrium despite the prospect of a bountiful harvest.
Coriander:
Coriander farmers are witnessing a nearly 30% reduction in crop output, a factor expected to exert upward pressure on prices until July. However, post-July, price escalation is anticipated to slow down with the influx of imports from Ukraine. This import dynamic is poised to play a pivotal role in balancing and stabilizing prices in the coriander market.
Fennel:
Anticipate a significant fennel harvest leading to a market downturn starting from April. The robust harvesting activities are projected to contribute to a substantial increase in the fennel supply, potentially impacting market dynamics and resulting in decreased prices.
Conclusion
In summary, the spice market is set for interesting developments in the coming months. Cumin prices are expected to stay steady despite a large harvest, reflecting a balance in supply and demand. Coriander prices may rise until July due to a reduced crop, but the arrival of imports from Ukraine is likely to stabilize the market afterward. Fennel, on the other hand, might see a decline in prices from April onward due to an anticipated surplus in harvesting. Keep an eye out for more updates as these trends unfold in the dynamic spice industry.