Ahmedabad, March 04 (CommoditiesControl): In a recent announcement, the Federation of Indian Spice Stakeholders (FISS), representing spice traders and exporters, has disclosed the production forecast for key spice crops in Gujarat for the year 2024. The focus of the report is on cumin, fennel, fenugreek, and coriander. According to FISS estimates, cumin production in Gujarat is projected to surge by an impressive 98% to reach 2.54 lakh tonnes this year. Additionally, the production of fennel is expected to experience a significant increase of 119%, reaching 1.30 lakh tonnes.
However, the FISS report indicates a decline in the production of coriander, estimated at 1.58 lakh tonnes, reflecting a 44% decrease compared to the previous year. Similarly, fenugreek production is anticipated to decrease by 28% to 24,620 tonnes.
The spice industry in Gujarat, particularly cumin, is closely monitored by traders and farmers who expressed concerns about potential damage due to unseasonal rain on Saturday. Despite the adverse weather conditions, market experts believe that the increased production this year is unlikely to have a significant impact on market dynamics. Similar trends are anticipated in other major cumin-producing states, including Rajasthan and Madhya Pradesh.
In Rajasthan, cumin production is expected to witness a substantial increase of 53%, reaching 3.12 lakh tonnes. Fennel production in the state is also projected to rise by 81% to 67,120 tonnes. Conversely, coriander production in Rajasthan is forecasted to decline by 26%, totaling 64,000 tonnes.
FISS Chairman Ashwin Nayak explained that the surge in cumin production in Gujarat is attributed to the significant expansion in the sowing area by farmers, spurred by favorable prices experienced last year. Despite the substantial increase in sowing, Nayak noted that the likelihood of a significant rise in cumin prices is low due to the expected bumper production this year. The current export demand is robust, and Nayak expects it to remain strong until June. The future market trend will depend on the performance of other key crops in the market.
(By CommoditiesControl Bureau; +91-9820130172)
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