Fennel seed price may move sideways

Fennel seed prices are likely to show sideways movement until the arrival of the new crop towards the end of December, with demand matching supply, traders said on Tuesday.

Currently, prices are in the range of Rs 700-800 per 20 kg in Unjha, a major market in India, lower when compared with Rs 1,000-1,300 per 20 kg a year ago. "Fennel seed prices had touched a record high of Rs 850 per 20 kg in May on account of huge demand from Sri Lanka," said Pravin Patel, a trader in Unjha.

Demand from exporters mainly drives fennel seed prices. In March-April, prices were around Rs 600 per 20 kg and since then have moved up on good demand from buyers in Sri Lanka, Bangladesh and Singapore. Prices are likely to remain steady until the end of December, said Patel.