Poppy Seed will break the record of 2021

19-May-2025 06:46 PM

For some time now, poppy seed prices have been rising steadily, and the current trend suggests that this upward movement is likely to continue. Market analysts expect prices to reach new highs if current conditions persist.

Low spot trade

Despite the ongoing price surge, spot trade activity remains low at the current elevated price levels. Experts attribute this to increased speculation in the market. The import of poppy seed from Turkey has been banned for the past two years, and recently, the Indian government formally closed trade with Turkey. This has further fueled speculation, as there is currently no possibility of import resumption, tightening domestic supply.

Rise in prices

On the current trading day, poppy seed prices rose by Rs 200 to Rs 250 per kg at consumption centers, including mandis in the producing regions. In Neemuch Mandi, poppy seed tinopal is being quoted at Rs 1650–1700 per kg. In Kolkata, Turkish poppy seed has reached Rs 1750, while in the Delhi market, it is quoted at Rs 1700–1750 per kg. According to market sources, poppy seed prices may soon cross the Rs 2000 per kg mark. If trade with Turkey does not resume soon, prices could climb even higher.

Domestic poppy seed arrivals typically begin around March–April each year. It is worth noting that in October–November 2021, the record price of poppy seed in Neemuch Mandi was Rs 1950–2000 per kg. However, given the current supply situation and market sentiment, a new price record seems imminent this year.