No further slowdown in fennel prices
29-Aug-2024 07:01 PM
New Delhi. Knowledgeable sources say that currently the prices of fennel are being quoted at the lowest level. Stocking at the current prices will be a profitable business. It is worth mentioning that due to the fair price given to the producers last year for their produce, fennel was sown on a large area in the major producing states of Gujarat and Rajasthan for the current season. After sowing, the weather was also favorable for the crop. Due to which the yield was also high. During the current season, the production of fennel in the country is believed to be 38/40 lakh bags (each bag is 55 kg) whereas last year the yield was 20/21 lakh bags. Due to high yield, there was a continuous decline in prices. And currently, the prices of low quality are being quoted at Rs 6000/7000 per quintal in the markets of producing centers. Currently, the export trade is decreasing. Due to which the export price has come down to the level of Rs 7000/7100, which was running at Rs 8000/8100 per quintal in the month of June. Sources believe that the prices of fennel are likely to rise in the coming days as the demand increases. Because the market has slowed down due to high production, apart from this, the daily arrivals at the markets of the producing centers have also started decreasing.
Export
Due to the low price, the export of fennel is likely to increase in the second year as well. According to the information received, the export of fennel in the year 2022-23 was 20201 tonnes, which has increased to 39565 tonnes in the year 2023-24. An increase in the export of fennel has also been recorded in the first three months of the current season 2024-25. According to private information, during April-June 2024, the export of fennel was 34015.78 tonnes, whereas last year in April-June-2023, the export was 18573.19 tonnes. It is noteworthy that in the year 2021-22, the record export of fennel was 40139 tonnes, but looking at the current export performance, it is expected that in the year 2024-25, fennel will set a new record level of export.