Market Update - September 2025

Market Update - September 2025

BLACK PEPPER

Indonesia:

Harvest Season: July to September

• Crop was delayed, and short. Farmers are holding on to the limited stock they have, resulting in very poor arrivals to market.
• Current offers from Indonesia are close to USD  7400/MT for light berries with 6.5% piperine. Prices moved up substantially over last few weeks.
• Crop size is estimated short by 30%. The higher prices as sold by other origins this season will have a strong impact on the prices on coming season, irrespective of crop size.

Sri Lanka:

Harvest Season: April – June, Dec-Jan

• Light berries Season is over. Piperine content has reduced in the arrivals to 8% levels.  Only Bold berries are available currently.
• Prices had surged historically last season.
• Crop was less; therefore, prices were much higher than usual.
• Current prices run between USD 10500 for 9% piperine material in very limited availability with stockiest.

Vietnam:

Harvest season: December to February

• It is off-season now.
• Crop was bad than estimated, due to weather conditions. Crop was delayed too.
• Unpredictable weather patterns have disrupted traditional farming patterns, leading to reduced yields and delayed harvests. Due to these prices remain high during season.
• Increase in  customs duty by US Government  has caused reluctance in American buyers, due to lack  of clarity on landed cost,  due to which there has been a marginal  fall in the price of bold berries to USD 6000-6500/MT levels; however, this has not affected the light berries price, as the availability has come to an end, and buyers still looking for LBs. Limited offers available are all above USD 7000/MT. China had bought whatever stocks of light berries available aggressively at all price level.

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 almost getting 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.
• Some off-season low quality distillation grade materials are available in the market.
• Demand is high for both green and dried ginger.
• Matured ginger is available now in the market, with very less oil yields of 1.5 to 1.8% (as against 2-3%).
• Raw material prices have slightly declined to the range of USD 1450 to 1500/MT.

CARDAMOM:

Prices remain high for Indian cardamom pods.

Harvest Season: August- November

• The Harvesting season mainly occurs between August and November. Harvesting this year was delayed, due to heavy rains.
• Continuous rains in July in growing regions resulted in decay of fruits in a big way. Crop size this would be lesser than expected earlier.
• Currently market has very low arrivals.
• Prices have been moving up steadily in July and continues to be firm.
• We expected a price fall in September; however, this has not happened, and prices are running high currently.
• Cardamom oil prices also moved up and is currently at USD 500/kg levels.
• Due to large enquiries from Middle East and Europe, prices moved up 15-20% in the last two weeks.

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:

It is off-season to all origins.

India:

Harvest season: February - April

• As per the prediction prices should have come down, but the price surged steeply, due to less crop than expected, from the major growing regions.
•  The primary driver of this price increase is the growing demand from powder manufacturing companies.
• After waiting for some time, curcumin extraction companies also started buying aggressively,  as there is huge demand for curcumin, due to short supply carried forward from 2024 year end.
•  It is unlikely that the prices will decline in the coming months.
• Season is fully over, and Availability is very low.
• Price for Curcumin 95% has increased due to less availability, ranges from USD 90-95/kg.
• RM prices is currently at the range of USD 1550to 1600 per MT, for the inferior quality RM available.

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.
• Prices are high, at USD 1900/MT levels.

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  over. Crop was fair.
• Prices have moved down substantially after the season. The prices for extraction 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.
• Raw material price was low at the beginning of season but increased after  two three weeks and now in the range of USD 3150/MT, and is currently stable at these levels.