Excellent monsoon and better acreage, supported by favourable weather conditions circumstances, have brightened crop prospects for critical area spices – grown on the area and not on the vegetation – such as cumin seed (jeera) and coriander seeds (dhana), amongst some others.
The Federation of Indian Spice Stakeholders (FISS) on Sunday launched its crop estimate for jeera with 29 for every cent bounce in crop measurement from very last year, from four,16,600 tonnes in 2019 to 5,35,500 tonnes this year.
The full space underneath jeera has amplified by about 25 for every cent at ten,25,600 hectares. Gujarat and Rajasthan are the two jeera rising States, wherever the acreage has seen 40 for every cent and 16 for every cent bounce from very last year, respectively, to four,39,830 hectares and 5,85,770 hectares. The in general yield is approximated to be in the assortment of 522 kg for every hectare with a marginal increase of 3 for every cent in excess of very last year.
“After a very good monsoon, favourable weather conditions circumstances have supported the crop. However, there are some concern for the subsequent two-3 weeks as most of the crop is continue to standing in the fields and any climatic disturbance at this phase may well adversely have an impact on the crop,” reported Ashwin Nayak, previous chairman, Federation of Indian Spice Stakeholders (FISS), soon after the business meet in Udaipur on Sunday.
The business is anxious about the cost outlook amid the world wide coronavirus scare and amplified crop estimates. China and Europe are the main destinations for jeera exports. With uncertainty in excess of exports and amplified output estimates, prices are probably to get a hammering the two in location as nicely as futures. The location prices have now fallen to ₹13,903.55 a quintal, which is ₹600-seven-hundred fall in just a thirty day period. Jeera futures for March contract on NCDEX was also down at ₹13,605.
Coriander seed is also probably to see a sharp 55 for every cent bounce in the in general output supported by a steep 275-for every cent surge in acreage in Gujarat at 1,fourteen,320 hectares this year as against 30,500 hectares very last year. The crop measurement in Gujarat is expected to be better by 293 for every cent to 1,52,770 tonnes for the year.
While Madhya Pradesh is established to see a modest rise in the output with 25 for every cent bounce, Rajasthan will see a fall of about 8 for every cent in the output in excess of very last year. Increased crop prospects has also introduced down coriander seed futures on NCDEX which fell from ₹7,548 for every quintal in January 2020 to ₹5,835 for the April contract.
The other main area spices crops, fennel seed and fenugreek, FISS has approximated an increase in output by 19 for every cent and 32 for every cent respectively. Fennel seed crop is approximated at 89,970 tonnes, while fenugreek output is projected at 1,65,810 tonnes for 2020.