We have a report estimating this year’s production to be close to 800 tons, more than double of last year’s. Good weather conditions in the growing regions and enough electricity to provide irrigation cited as reasons for increased acreage.
Mid-End May will see distillation of new crop in earnest. Initial reports are that crop looks good but weather will be the deciding factor. Excessive rain will affect yield.
Similar to Arvensis, no good news here. Production down from last years; less acreage and heavy rains in the North. Prices have jumped and are expected to stay firm until next year’s crop.
On July 1st a Goods and Services Tax (GST) went into effect, at a rate of 12%. Impact on pricing is what one would expect. With less acreage planted, increased strength of the Rupee and this new tax, prices have changed weekly. Several producers anticipate prices to continue to rise for some time.
Reports from India continue to state that total production this year will be down. There is also the question of quality surfacing, as reported by the Indian producers themselves. With the current strength of the Rupee to the dollar, prices have firmed. U.S. growers have also indicated that their prices this year will be higher than last year.
Reports indicate that far less acreage has been planted this year. Although there are no reliable records available, dealers are forecasting this year’s production to be 350 – 400 metric tons. Exports from India average 1,500 – 2,000 metric tons per year.