Superior monsoon and greater acreage, supported by favourable weather conditions problems, have brightened crop prospective customers for important area spices – developed on the area and not on the crops – including cumin seed (jeera) and coriander seeds (dhana), amongst others.
The Federation of Indian Spice Stakeholders (FISS) on Sunday unveiled its crop estimate for jeera with 29 per cent bounce in crop measurement from final year, from four,sixteen,600 tonnes in 2019 to five,35,500 tonnes this year.
The total location underneath jeera has enhanced by about twenty five per cent at 10,twenty five,600 hectares. Gujarat and Rajasthan are the two jeera increasing States, in which the acreage has found 40 per cent and sixteen per cent bounce from final year, respectively, to four,39,830 hectares and five,eighty five,770 hectares. The over-all produce is approximated to be in the variety of 522 kg per hectare with a marginal boost of three per cent around final year.
“After a great monsoon, favourable weather conditions problems have supported the crop. Even so, there are some problem for the up coming 2-three months as most of the crop is however standing in the fields and any climatic disturbance at this stage might adversely influence the crop,” said Ashwin Nayak, previous chairman, Federation of Indian Spice Stakeholders (FISS), right after the industry satisfy in Udaipur on Sunday.
The industry is anxious about the selling price outlook amid the international coronavirus scare and enhanced crop estimates. China and Europe are the important destinations for jeera exports. With uncertainty around exports and enhanced output estimates, price ranges are probable to get a hammering each in place as nicely as futures. The place price ranges have currently fallen to ₹13,903.fifty five a quintal, which is ₹600-seven-hundred tumble in just a thirty day period. Jeera futures for March agreement on NCDEX was also down at ₹13,605.
Coriander seed is also probable to see a sharp fifty five per cent bounce in the over-all output supported by a steep 275-per cent surge in acreage in Gujarat at 1,fourteen,320 hectares this year as in opposition to thirty,500 hectares final year. The crop measurement in Gujarat is envisioned to be greater by 293 per cent to 1,52,770 tonnes for the year.
Though Madhya Pradesh is set to see a modest increase in the output with twenty five per cent bounce, Rajasthan will see a tumble of about 8 per cent in the output around final year. Greater crop prospective customers has also brought down coriander seed futures on NCDEX which fell from ₹7,548 per quintal in January 2020 to ₹5,835 for the April agreement.
The other important area spices crops, fennel seed and fenugreek, FISS has approximated an boost in output by 19 per cent and 32 per cent respectively. Fennel seed crop is approximated at 89,970 tonnes, though fenugreek output is projected at 1,65,810 tonnes for 2020.