Uncertain outlook for Indian turmeric -20 Dec

Uncertain outlook for Indian turmeric -20 Dec

– Concerns over impact of recent unseasonal rains
– Prices have risen of late
– Cumin and coriander seed set for decline in production

– India’s turmeric planted area is expected to be bigger next year but recent unseasonal rains led to plant diseases in some of the growing regions, which could lower yields.
– In its latest monthly report Olam Spices noted that the impact of climatic conditions and diseases on standing crops will be crucial in determining crop year (CY) 2022 production. “Prices moved up recently due to the impacts of rains and increased demand,” the company observed.

Cumin and coriander downturns
– Preliminary surveys of growers and sowing data as of the end of November indicate a drop in acreage of cumin and coriander in India as growers switch to more profitable crops.
“We expect CY22 acreage and production to be lower compared to last year for both crops. Prices moved up recently due to concerns of lower CY22 production despite weak export demand,” Olam Spices stated.
– The firm added that Indian cumin seed prices are likely to move up from current levels in the short term and Indian turmeric and coriander seed prices are expected to remain firm in the short term.

Source: (IHSmarkit)

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