Fennel seed prices down from peak

The prices of fennelseeds, which had touched an all time high for the past ten years, have crumbled with the arrival of fresh stock at the Unjha mandi.

According to an official of Market Yard Vepari Association, Unjha, "From an average of Rs 1, 200 to 1,300 per 20 kgs, the prices are now as low as Rs 900 with the peak season in place, bringing in a fall of Rs 300 in past one week. Last year's carryfoward had been about 40,000 bags only, which has exhausted. However, the arrival of fresh stock in going on well."

Pravin Patel of Unjha Commodities and Securities said, "The prices stood at Rs 1,400 to 1,450 for super extra quality from Abu Road till January end which has come down to Rs 950."

Other qualities of fennelseeds which were about Rs 1,200 to 1,300 have recently gone down to Rs 900, while some inferior quality funnelseeds are availalble for Rs 700, he added.

"One lakh bags was exported to Pakistan in December. The quality of funnelseed produced from Sabarkantha and Banaskantha are usually exported to Pakistan. The prices will have to further lower down to Rs 850 for exporting. It is only this year that the prices went so high. Two years ago during this season, fennelseed was available for Rs 500 per 20 kgs," he said while adding that currently there is hardly any export.

About 8-9 lakh bags (each containing 55 kgs) are expected this year and from past few days, about 7-8,000 bags have started making their way to the Unjha market.

The area under cultivation is 1.5 times more than the previous year. About two weeks ago there was a daily arrival of only 500-1000 bags (each containing 55 kgs), Ramesh Patel, a trader in funnelseeds said.

Babulal Joytsaram, a trader in Mehsana, said, "Currently there is not a single bag of old stock in Unjha. Last year the prices were as low as Rs 500 hence there was a lot of export. This year too one cannot rule out the possibility of good export however, for this the prices need to be lowered to Rs 700-725 from existing Rs 800 for good quality funnelseeds. For all types of funnelseeds the prices have fallen by Rs 200-250 and will further dip by another Rs 100."