Cumin prices swing 25-35% between Rabi harvest (March-May ₹18,000-22,000/quintal) and Kharif peak (October-November ₹25,000-32,000/quintal), creating massive arbitrage opportunities for exporters timing inventory purchases correctly. India’s dual-crop spice calendar generates $4.46 billion annual exports where understanding monthly FOB trends across chili, turmeric, coriander, and fenugreek separates profitable exporters from those struggling with razor-thin margins or rejection losses during off-season quality degradation. This comprehensive 2026 calendar maps harvest timelines, Unjha APMC pricing patterns, global demand peaks, and strategic inventory holding periods across India’s top five seasonal spices.
Seasonality drives spice economics because Rabi crops (winter-sown, March-May harvest) benefit from dry weather ensuring optimal drying conditions and lower microbial contamination, while Kharif crops (monsoon-sown, October-November harvest) face humidity challenges requiring extended drying and higher steam sterilization costs. Exporters capture maximum margins by purchasing Rabi cumin at seasonal lows, holding inventory through summer price troughs, then selling into Kharif shortages when Bangladesh and UAE importers scramble for supply. The calendar below reveals exactly when to buy low, process efficiently, and ship high across each major export category.
January-February: Pre-Rabi Buying + Pepper/Cardamom Peak
January opens the export calendar with black pepper harvest completion from Kerala’s Wayanad and Karnataka’s Shimoga regions, where December-March picking delivers VG-1 Bold grade at peak $5.50-6.80/kg FOB. Exporters secure forward contracts during this window because pepper drying completes by late January, enabling February-M March shipments to USA restaurant chains restocking for Lenten season demand. Pepper prices stabilize at ₹40,000-48,000/quintal through February as drying completes, but exporters must schedule steam sterilization immediately since March-May represents Salmonella testing peak before USA summer shipments.
Cardamom auction season runs August-November but export peak demand hits January-March when Middle Eastern buyers stockpile Alleppey Green and Idukki Bold 8mm grades for Ramadan preparation (February 28-March 30, 2026). FOB prices reach $3.20-3.80/kg during this window versus $2.80-3.20/kg post-Ramadan troughs, creating 15-20% seasonal margin expansion. Exporters target LC 45-day payments from Saudi/Qatar importers during this period since festive demand guarantees swift document presentation and payment realization.
Cumin pre-buying begins February as Unjha APMC traders signal Rabi crop flowering completion. Forward contracts at ₹19,000-21,000/quintal lock in 20-25% below Kharif peak pricing, with delivery scheduled March 15-25 when actual harvest begins. This timing allows exporters to plan sortex capacity and laboratory testing around peak Rabi arrivals rather than reacting to spot shortages.
March-May: Rabi Harvest Goldmine (Cumin, Coriander, Fenugreek)
March represents the golden window for Rabi spice exports because cumin harvest peaks March 15-31 across Gujarat’s Unjha, Patan, and Mehsana markets, delivering sortex-cleaned 99% purity product at ₹18,000-22,000/quintal – the annual low point. Rabi cumin achieves superior quality with 1.8-2.2% volatile oil content due to dry harvest conditions versus Kharif’s 1.5-1.8% average, commanding $3.40-3.80/kg FOB to Bangladesh (1,175 annual shipments) and UAE re-export markets. Exporters fill 20ft containers at ₹1.05 crore yielding ₹16-18 lakh gross profit (15-17% margin) after ₹1.8 lakh freight and ₹40,000 testing costs.
Coriander follows immediately with Rajasthan’s Nagaur and Madhya Pradesh markets delivering February 20-April 10 harvest at ₹14,000-17,000/quintal versus Kharif peaks of ₹20,000-24,000. USA ethnic grocers and UK curry houses purchase April-May when Indian coriander freshness exceeds six-month-old Kharif stocks, paying $2.20-2.60/kg FOB for bold 16/40 mesh seeds with 0.8% volatile oil guarantee. Margins reach 14-16% since coriander requires minimal processing beyond basic cleaning and moisture testing (9% maximum).
Fenugreek completes the Rabi trio with March 10-April 20 harvest from Rajasthan and Haryana yielding ₹16,000-19,000/quintal pricing and 12-15% export margins to USA diabetes supplement manufacturers valuing high diosgenin content. Unlike cumin’s complex volatile oil testing, fenugreek compliance focuses on test weight 50g/100ml minimum and clean sortex appearance, reducing laboratory costs to ₹15,000-20,000 per container.
Strategic inventory building peaks April-May when global buyers deplete winter stocks but Indian Rabi arrivals flood markets, creating natural price troughs. Exporters warehouse 2-3 months forward supply in humidity-controlled facilities (below 60% RH) capturing Kharif price appreciation while avoiding June-September monsoon quality risks.
June-August: Summer Inventory Hold + Chili Export Peak
June-July represents the strategic holding period when Rabi cumin trades at ₹20,000-23,000/quintal (10-15% above March lows) but Kharif planting delays create uncertainty. Exporters avoid selling into this window, instead processing Rabi stocks through sortex cleaning (₹800/quintal), laboratory verification (moisture 8-9%, purity 99%), and 25kg double PP+jute bagging for August-October shipments. Warehousing costs ₹15-20/quintal/month prove economical versus missing Kharif peaks.
Chili export window opens June-August as Guntur Sannam S4 drying completes from February-April Rabi harvest, delivering $3.20-3.80/kg FOB peak pricing when USA Mexican restaurants and Sri Lankan re-exporters face Chinese/Mexican supply shortages. Andhra Pradesh’s 1.2 million ton production against 650,000 ton consumption creates 550,000 ton export surplus, but aflatoxin testing below 10ppb (₹12,000-18,000/container) and steam sterilization (₹15-25/kg) become critical during humid summer storage. Exporters achieve 12-18% margins on 18MT containers yielding ₹12-15 lakh profit after ₹2.5 lakh total processing costs.
Turmeric finger drying completes May-July from Tamil Nadu’s Erode market, positioning June-August exports at ₹11,000-14,000/quintal before September new crop anticipation erodes pricing power. USA supplement buyers pay $3.50-4.50/kg FOB for 5-7% curcumin Erode fingers meeting 1ppm lead maximum (California Prop 65 compliance), generating 15-20% margins versus conventional bulk turmeric.
September-December: Kharif Peak + Festive Demand Surge
Kharif cumin harvest begins September 20 across Gujarat and Rajasthan, but October-November represents pricing peak at ₹25,000-32,000/quintal due to smaller crop size, monsoon-affected drying challenges, and Bangladesh/UAE panic buying ahead of winter. Exporters liquidate April-purchased Rabi inventory into this window, capturing 25-35% price appreciation (₹18,000 March purchase → ₹28,000 November sale = ₹10,000/quintal gross spread). FOB realization reaches $4.00-4.50/kg versus Rabi $3.40-3.80/kg, expanding margins to 18-22% despite higher Kharif quality testing costs (volatile oil frequently tests 1.5-1.8% requiring rejection of substandard lots).
Chili Kharif crop arrives October-December from Andhra Pradesh and Karnataka, but smaller volume compared to massive Rabi harvest keeps pricing stable at $2.80-3.50/kg FOB. Exporters prioritize Byadgi chilies for EU color markets during this window since Karnataka’s drier Kharif harvest delivers superior visual quality versus Andhra Pradesh’s humidity-challenged crop.
Cardamom festive demand explodes September-December ahead of Ramadan (Feb-Mar 2026) and Christmas when Middle Eastern/UK pricing reaches $3.50-4.00/kg FOB for 8mm Bold grades. Saudi Arabia and UAE importers place LC 60-day orders October-November, guaranteeing payment security during peak pricing. Exporters holding Idukki auction purchases from August-September achieve 20-25% margins during this festive window.
Pepper new crop begins December from Kerala, positioning January 2026 shipments at premium pricing before Vietnamese competition floods markets. Exporters secure Malabar MG-1 contracts during November-December at ₹45,000-52,000/quintal for February USA/Europe delivery.
Complete 2026 Spice Export Calendar
January-March: Pepper drying completion, cardamom Ramadan stocking, cumin Rabi forward contracts
March-May: Cumin/coriander/fenugreek Rabi harvest (buy low), inventory building begins
June-August: Chili/turmeric summer exports (sell Rabi stocks), aflatoxin testing peak
September-November: Kharif cumin peak (sell inventory high), festive cardamom/pepper demand
December: Pepper new crop positioning, year-end USA restocking
Inventory Strategy: Capture 25-35% Seasonal Arbitrage
April 15-May 15 Buying Window targets Rabi cumin at annual lows (₹18,000-20,000/quintal), coriander (₹14,000-16,000), and fenugreek (₹16,000-18,000) when Unjha/Nagaur markets overflow with fresh arrivals. Exporters secure 3-4 month forward supply covering August-November Kharif peaks, warehousing in palletized, humidity-controlled facilities (₹15-20/quintal/month = ₹1,800/quintal total carrying cost across 4 months).
Quality Preservation During Storage requires moisture re-testing every 60 days (₹5,000/test) confirming stability below 9% for cumin/coriander since atmospheric humidity absorption causes 1-2% moisture gain over 120 days, triggering mold growth and aflatoxin formation. Steam sterilization timing proves critical – process within 30 days of purchase during Rabi (₹15-25/kg) when capacity exists versus Kharif rush pricing (₹25-35/kg).
October 15-November 30 Selling Window liquidates inventory into Kharif shortages when spot cumin reaches ₹28,000-32,000/quintal FOB $4.20-4.60/kg, coriander ₹22,000-26,000, and fenugreek ₹24,000-28,000. This 4-month hold generates ₹8,000-12,000/quintal spread after ₹2,000 carrying cost, expanding gross margins from 15% Rabi spot to 25-28% arbitrage profit.
Container Loading Priority favors Bangladesh/UAE (October-November LC 30-45 days) over USA/EU (60-90 day cycles) during Kharif peaks since faster payment turnover funds next Rabi purchases. Exporters schedule Mundra port stuffing October 20-25 capturing peak ocean freight rates before December container shortages.
Risk Management Across Seasons
Monsoon Kharif Risk (July-September): Excessive humidity delays drying, forcing ₹800-1,200/quintal additional sortex costs and 20-30% rejection rates from sub-99% purity. Mitigate by capping Kharif purchases at 30% total inventory, prioritizing Rabi quality stocks.
Summer Quality Risk (June-August): Temperature fluctuations (35-42°C) accelerate volatile oil evaporation in cumin/coriander. Implement weekly warehouse inspections confirming temperature below 30°C and humidity 55-60% RH through dehumidifiers (₹2-3 lakh initial investment).
Global Demand Risk: USA Thanksgiving/Christmas (November-December) and Ramadan (February-March) create natural peaks, but China New Year (January 29, 2026) generates February chili/oleoresin surges. Diversify across 3-4 markets per spice avoiding single-destination exposure exceeding 40%.
This seasonality calendar transforms market chaos into predictable profit cycles. Exporters purchasing Rabi lows, holding strategically, and timing Kharif peaks capture ₹2-3 crore annual arbitrage across 20-30 containers while competitors chase spot volatility. The key lies in disciplined inventory discipline bridging seasonal valleys into profitability peaks.