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Due to the fear of low production and increasing demand abroad to increase immunity, the prices of spices have reached the sky. Spices do not figure in the list of essential commodities. In such a situation, there is less chance of their prices going down.
The kitchen was already heating up due to the inflation of food grains, edible oil and gas. Now expensive spices (Spices Price) also spoiling the taste. Inflation of spices has increased rapidly throughout the year. The price of coriander has increased by about two and a half times. The price of red chili has gone up by 50 percent. There is also an unexpected increase in the price of cumin, fennel, fenugreek. released last week retail inflation ,Retail Inflation) figures are also revealing this fact. Along with vegetables and oil, the inflation of spices has also crossed the threshold of tens. Now understand the reason for this acceleration.
The yield of most spices this year is estimated to be lower than last year. Due to which the supply is likely to be affected. Because of this apprehension, prices are increasing. Coriander production is estimated to decrease by about 80 thousand tonnes this year, while cumin production may also decrease by about 70 thousand tonnes. The yield of red chilli, carom seeds and small cardamom has also been reduced.
low production potential
This estimate of production of spices was released in March. Till then the damage to the crop due to the heat had not been assessed. There is a apprehension that the estimate regarding production was released in March. The harvest is less than that. If this apprehension turns out to be true. So the supply of spices may get affected even more.
Apart from this, the demand for Indian spices has increased worldwide during the Corona period to increase immunity. Due to which spices are being exported abroad at high prices. This increased foreign demand is further fueling the prices of spices. During April to December last year, about 1.2 million tonnes of spices worth $ 3.1 billion were exported from the country. Red chili, cumin, turmeric, dried ginger, coriander and fennel account for most of this export.
Spices do not come in the list of essential commodities
Spices do not even come in that list of essential commodities of the government. Including wheat and oil. That is, those goods whose price. Grow a little. So the government immediately swung into action. Flour should not be too expensive. For this, the government has banned the export of wheat. Along with this, many types of duties have been abolished to increase the import of edible oil. But because spices do not come in that list. In such a situation, there is little hope of taking any step from the government’s side to reduce their price. That is, the inflation of spices can spoil the taste of food for a long time.