Field spice crop prospects look bright this season
Very good monsoon and bigger acreage, supported by favourable weather situations, have brightened crop potential clients for important discipline spices – grown on the discipline and not on the plants – like cumin seed (jeera) and coriander seeds (dhana), among other folks.
The Federation of Indian Spice Stakeholders (FISS) on Sunday launched its crop estimate for jeera with 29 for every cent leap in crop measurement from previous 12 months, from four,16,600 tonnes in 2019 to 5,35,500 tonnes this 12 months.
Increased acreage
The overall place below jeera has increased by about 25 for every cent at ten,25,600 hectares. Gujarat and Rajasthan are the two jeera growing States, where by the acreage has witnessed forty for every cent and 16 for every cent leap from previous 12 months, respectively, to four,39,830 hectares and 5,eighty five,770 hectares. The total generate is believed to be in the array of 522 kg for every hectare with a marginal enhance of 3 for every cent above previous 12 months.
“After a good monsoon, favourable weather situations have supported the crop. However, there are some concern for the upcoming 2-3 weeks as most of the crop is even now standing in the fields and any climatic disturbance at this phase may well adversely affect the crop,” claimed Ashwin Nayak, previous chairman, Federation of Indian Spice Stakeholders (FISS), just after the business meet up with in Udaipur on Sunday.
The business is worried about the price tag outlook amid the world-wide coronavirus scare and increased crop estimates. China and Europe are the big destinations for jeera exports. With uncertainty above exports and increased output estimates, price ranges are possible to get a hammering equally in place as perfectly as futures. The place price ranges have currently fallen to ₹13,903.fifty five a quintal, which is ₹600-seven hundred fall within just a month. Jeera futures for March agreement on NCDEX was also down at ₹13,605.
Coriander seed is also possible to see a sharp fifty five for every cent leap in the total output supported by a steep 275-for every cent surge in acreage in Gujarat at one,14,320 hectares this 12 months as from thirty,500 hectares previous 12 months. The crop measurement in Gujarat is anticipated to be bigger by 293 for every cent to one,52,770 tonnes for the 12 months.
When Madhya Pradesh is established to see a modest increase in the output with 25 for every cent leap, Rajasthan will see a fall of about eight for every cent in the output above previous 12 months. Increased crop potential clients 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 agreement.
The other big discipline spices crops, fennel seed and fenugreek, FISS has believed an enhance in output by 19 for every cent and 32 for every cent respectively. Fennel seed crop is believed at 89,970 tonnes, whilst fenugreek output is projected at one,65,810 tonnes for 2020.