COIMBATORE: Pollachi's nutmeg-mace market has seen one of its strongest seasons in recent years, bolstering its dominance as a global leader in high-quality mace production. Most of the region's stock is now sold out, with prices of the Pollachi nutmeg-mace now having touched an all-time high of Rs 3,050 per kg, making it one of the most highly valued spices this season.
The Pollachi Nutmeg Farmer Producer Company (PNFPC), which is a farmers' consortium, has fixed the opening price for nutmeg-mace at Rs 2,850 per kg, after which prices steadily climbed to Rs 3,000 per kg by mid-October, eventually touching Rs 3,050 per kg now. This year, Pollachi recorded a production of 18 tonnes of nutmeg-mace.
Even broken mace, which usually sells at around Rs 1,500, saw a sharp rise to Rs 1,800 per kg this year. Price for the inferior quality red mace, which is typically sold by a very small section of farmers, also did not fall below Rs 2,500 per kg at any point in the season.
"Farmers in the region typically harvest mace while it's still red, gradually dry it, and stock it in airtight drums until prices peak in late December and early January. However, this year, the harvest season began unusually early owing to rains in the first week of April, instead of following the usual June schedule.
Even then, farmers were willing to sell their stocks only after prices reached Rs 2,800 per kg. The consortium has already facilitated the sale of six tonnes of superior quality mace, and most of the region's stock is now sold out. Retailers from across India have directly approached the consortium this season owing to high demand and limited supply," said R Ranjit Kumar, a nutmeg-mace farmer and Managing Director of the PNFPC.
"The rise in price is due to the impact of exceptionally heavy rains in July, which subjected a sizeable quantity of second-grade mace to fungal attacks, reducing the availability of top-grade produce. With only limited stocks of superior quality mace in the market, traditional buyers began procuring in September, significantly ahead of the usual season. Further, mace stocks also matured to yellow much earlier, owing to an early harvest, thus accelerating market activity," he said.
Another farmer, K Vishwanathan, said, "We are upbeat about the price rise, but the unusually high volume of fungal-affected mace has raised concerns across the farming belt. Last year, nutmeg-mace was priced up to Rs 2,400 per kg, which has been the highest price until this year. Over 300 farmers involved in nutmeg-mace cultivation, including myself, are happy with the current price. We have sold all the nutmeg-mace this season, which would otherwise last until January."
While Pollachi's lotus-bud-shaped mace is fetching record prices, the lighter, smaller Kerala nutmeg-mace remains stagnant at Rs 2,300 per kg, with traders showing limited interest due to its lower weight and thinner structure. Factors such as early yellowing, reduced availability of premium nutmeg-mace due to fungal attacks, and high demand from traditional traders have left Pollachi nutmeg farmers in glee.