Production of turmeric is likely to decline by 20-25% in 2021-22 (Jul-Jun) due to a drop in yields following heavy rain in key growing states during Sep-Nov. The conflict between Russia and Ukraine may only have a minimal impact on barley prices in India as new arrivals are set to hit the market within a week, which usually weighs on sentiments. The International Cotton Advisory Committee has raised its price forecast of Cotlook A Index, a global benchmark for prices of raw cotton, to 109 cents per pound, up by 5 cents from the previous estimate, the agency said in a report. A mixed sentiments continued in NCDEX Spices complex. Barring turmeric, other spices ended down on Wednesday. Turmeric April futures managed to end the session in green on concerns over possible decline in yields due to unfavorable weather which could lower production in the 2021-22 kharif season. Jeera and Coriander futures came under pressure from rise in arrivals in the spot market. However, forecast of fall in production in the 2021-22 rabi season lend support, limiting losses.

According to the second advance estimates by Gujarat state agriculture department, jeera production is seen declining to 236980 tons in 2021-22, down 41 per cent year on year. Area is seen at 289000 ha as against 473800 ha a year ago. Coriander production is seen declining as well to 211680 tons compared to 221240 tons in 2020-21. Exports of spices from India during Apr-Sep declined 8% on year to 780,273 tn, accord-ing to data from the Spices Board India. Spices Board pegs Apr-Sep jeera exports at 139,295 ton, down 14%. Spices Board pegs Apr-Sep turmeric exports at 77,245 ton, down 26%. Spices Board pegs Apr-Sep pepper exports at 10,844 ton, up 24%. Spices Board pegs Apr-Sep small cardamom exports 4,240 ton, up 101%. Spices Board pegs Apr-Sep coriander exports at 24,459 ton, down 13%. India exported 299,000 tn of jeera in 2020-21, up 40% on year according to the Spices Board. According to Spices Board, Coriander exports from India were up 21% on year at 57,000 ton. Government sees 2020-21 coriander output at 720000 tons compared to 701000 tons a year ago. Spices Board sees exports of turmeric up 33% to 183000 tonnes in FY 2020-21 on yoy basis. Government sees 2020-21 turmeric output at 1.11 million tonnes compared to 1.15 million tons a year ago. Spices Board pegs FY21 small cardamom export 6,500 ton, up 251% on year. Output of small cardamom is seen rising by 100% on year to 22520 tons according to the Spices Board.