Market Report - October 2025

#CropReport

BLACK PEPPER

Indonesia:

Harvest Season: July to September

Erratic weather pattern caused 20-25% yield drop in 2025, marking 4th consecutive year of global production decline due to climate stress.
Farmers abandoning pepper for coffee & durian, reducing cultivation area and quality as plantations are neglected due to higher labour costs.
Current offers from Indonesia are close to USD 7700/MT for light berries with 6.5% piperine. Prices moved up substantially over last few weeks.

Sri Lanka:

Harvest Season: April – June.

Light berries Season is over. Piperine content has reduced in the arrivals to 7-8% levels. Only Bold berries are available currently.
Prices had surged historically last season.
Sri Lankan Kandy crop is expected to start in the second half of October, according to the latest reports.
This season’s Kandy crop is expected to be significantly smaller than last year.
Currently offers available for 7-8% material at USD 9000/MT which is not a feasible price for extraction.

Vietnam:

Harvest season: December to February

It is off-season now.
Over the past 2 years, global pepper supply has drastically reduced.
Vietnam, the main producer, has fallen from 230,000 Mts+ crop annually to about 170,000 Mts crop as farmers shift from pepper to other crops such as durian.
Increase in customs duty by US Government has caused confusions in pepper market globally. Currently limited offers available are all above USD 7200/MT. China had bought whatever stocks of light berries available aggressively at all price levels

CAPSICUM:

Harvest Season: December to May

Crop was fair this year, also area of cultivation is also high.
As of now, prices for most of the varieties other than Teja has come down marginally, therefore extraction companies are using more of 5531 variety for extraction.
Prices for chilly are currently weak and downward.
As the season is over, and major mandies(market) are closed now, offers are now coming for material from Cold storages.

NUTMEG:

India:

Harvest season: May to August

Season is over.
Arrivals are slow.
Various qualities of raw material are entering the market.
At present, raw material prices are fluctuating- USD 1165 - USD 1200/MT.
Prices are stable, similar levels through last one year.

Indonesia:

Harvest Season: March- April, July – August

Main season has ended, but there are arrivals of small volumes currently.
Prices have subsided marginally.
Current prices are not feasible for extraction companies. Nutmeg BWP without shell is USD 4900 per MT.

GINGER:

Harvest Season: December- March

It is off-season now.
Ginger is currently in the growing stage in the major growing regions.
Cultivation area is about 10% lower than last year, due to unfavourable weather conditions damage of the crop has been reported.
First-quality fresh ginger prices have increased by 20% last month, due to lower availability of higher grades. Prices of dry ginger have remained stable over the last month
Dried ginger prices remain stable at USD 1450 to 1500/MT levels.

CARDAMOM:

Harvest Season: August- November

Prices remain high for Indian cardamom pods.
Harvesting this year was delayed, due to heavy rains. We expected a price fall in September; however, this has not happened, and prices are running high currently. Season is now on-going. Peak arrivals expected by end October.
Cardamom oil prices are firm at USD 470/kg levels.
Due to large enquiries from Middle East and Europe, prices moved up 15-20% in the last two weeks.
We expect prices to ease in November, when arrivals reach the peak.

CORIANDER:

Harvest Season: March – May.

It is off-season now.
Prices are currently stable on USD1200 per MT
Price may go up if the demand increases.

TURMERIC:

India:

Harvest season: February - April

Current demand for turmeric is being met from carry-forward stocks.
Domestic demand remains high, but availability is very limited for high spec material.
Higher tariffs on Indian-origin products by the USA have not had any significant impact on exports
Stockist and traders are holding on to their stocks anticipating higher prices till the new season arrives.
Prices have remained stable in last one month and are higher than the levels observed during peak arrivals.
Upcoming crop is expected to be good, as the current weather conditions remain favourable. The next harvest is expected from February 2026 onwards.

Vietnam:

Harvest season: February - April

It is off-season now.
Prices prevailed very high this year, close to USd 1900/MT this year, due to short crop.
Currently prices moved down little bit, however, quality RM with high curcumin levels are not available.

Indonesia:

Harvest Season: August- November

Harvesting is ongoing in Indonesia.
Current weather conditions remain favourable, and farmers are taking advantage of the dry climate to prepare dried turmeric.
The total crop output is expected to be marginally higher than last year’s levels.
Domestic demand for fresh turmeric remains high, and with the USA easing tariffs on Indonesian turmeric, exports have picked up.
Prices have increased by 5% in last one month.

PAPRIKA:

Harvest Season: November- April.

Crop was fair last season.
High colour material prices are moving downwards.
There is an upward trend in low colour paprika price, due to less production of heat chillies.
As season is over, cold storage material is being currently traded in the market
Price indication for 100k paprika is USD 19-20 per kilo.

CELERY:

Harvest Season: May- June.

It is off-season now.
As the crop was not so good, prices moved up marginally this season.
Production was down by 35% compared to last year. RM price currently ranges from USD 1350 to USD 1450 /MT.
Celery seed oil and oleoresin prices moved by 30-40%, compared to last season.

FENNEL:

Harvest Season: February- May

Season is over.
Crop is 20% less compared to last year’s.
Price is expected to be stable as the demand is low now and carry forward stocks are there in market.
RM price is at a stable condition, at USD 1500/MT.

GARLIC:

Harvest Season: March – May.

Season is almost over. Crop was fair.
The prices for extractions companies will arrive only after the total crop goes to storage and surplus comes to market.
Prices are in the range of USD 450/MT to 500/mt.

FENUGREEK:

Harvest Season: June-July and October-November.

In India, fenugreek remains a significant crop, with favourable weather conditions supporting its cultivation., but weather variability and storage conditions may affect quality and availability.
Prices seems to be decreasing due to lack of demand. Currently price is at USD 850/MT levels.

ONION:

Harvest Season: January- February, April-June, October -November.

Season is over now.
Prices are moderately fluctuating as fresh arrivals balance out demand, if exports rise sharply, domestic price may firm up.

CUMIN:

Harvest Season: February- May

Season is over
Crop was good but price has not reduced as expected.
Carry-forward stocks of cumin remain high, with around 50% of the current harvest still in storage.
Prices dropped marginally, to USD 3000/MT levels, due to lower demand and concerns over the high level of carry-forward stocks.