Deficient rainfall may affect spices crop: Geojit Comtrade

MUMBAI: A weak monsoon and dry spells across the major spices producing areas in the country may drive the crops towards a crisis, with prices of major spices hovering at higher ranges, an industry expert has said.

Prices of pepper, jeera, turmeric, chilli and coriander traded at the higher-level on concerns over drop in acreage in the current year due to weak monsoon, Geojit Comtrade Whole-Time Director C P Krishnan said here.

The price of cardamom is likely to stay firm if the monsoon weakens further as the production will be affected, Krishnan said, adding, deficient monsoon has influenced the production of pepper and cardamom in the Southern states of the country.

The flowering and pollination of pepper, which takes place during the monsoon, has been affected due to the drought like situation, he said.

Sowing of kharif (monsoon) crops has already been delayed due to scanty rains in the top producing states of Gujarat and Rajasthan. Thereby, concerns over delay in sowing during the Rabi season is supporting the price uptrend in jeera and coriander.

Weak monsoon rainfall in states like Tamil Nadu, Andhra Pradesh and Maharashtra discouraged the fresh sowing of the turmeric crop in the current season.

Sowing of new crop in Telangana region has already been affected by deficient rainfall. Planting of chilli, which normally starts in August will depend on rain, he said.

Meanwhile, adverse monsoon is unlikely to influence rubber in the immediate run, but, it severely impacts the yield in next season, Krishnan added.