Fenugreek prices have risen by 13 per cent year-on-year due to increasing demand from the Gulf nations, particularly Saudi Arabia.
The latest Mintec research found that demand for the plant has also been rising in Singapore, Malaysia and Japan. Indian exports to those regions have increased by 60 per cent.
Mintec expects demand for fenugreek to ease because a new crop is underway. Fenugreek can be used as an herb when using the leaves or as a spice by using the seed.
“India is the largest producer of fenugreek, and continually increasing demand has sent Indian fenugreek prices on an upward trend,” said Mintec.