Mumbai, 7 March (Commoditiescontrol) Indian spice complex witnessed mixed trend in the prices of major spices like turmeric, cumin seed, coriander seed and red chilli but downside movement is expected ahead in the short-term amid domestic arrival pressure and fears of recession as crude oil prices rose to the highest levels since 2008 due to Russia-Ukraine war.
Crude oil price rallies have raised the fears of recession head, which will keep prices of spices under pressure, Ajay Kedia, Director Kedia Advisory, said. According to him, apart from recession fears, other factors are also there which will dampen demand for spices in short-term.
Higher freights due to shortage of containers may discourage export demand for spices and lacklustre export demand will bring prices under pressure, he added.
Also, stockiest will hesitate to increase their stock-position due to uncertainty in the market, while pressure will continue.
However, spice complex is expected to turn bullish in long-term as production of most spices are estimated lower compared to last season.
Turmeric
Turmeric prices ended steady/down in the spot market last week amid slack tone while futures ended a tad higher amid.
The Production of turmeric is expected to fall by 20-25% in 2021-22 (Jul-Jun) due to a drop in yields following heavy rain in key growing states during Sep-Nov, as per the market analysts.
Spices Board pegs Apr-Sep turmeric exports at 77,245 ton, down 26%.
Commodity
Market
Variety
04-03-2022
25-02-2022
Change
Weekly Arrivals (Approx)
Min
Max
Prev. Min
Prev. Max
Turmeric
Erode
Gattha
7200
7500
7200
7500
0
22400
Turmeric
Erode
Finger Rs 100kg - Bag75kg
8000
8200
8000
8200
0
Turmeric
Duggirala
Finger Rs 100kg - Bag70kg
6700
7000
6800
7000
0
2200
Turmeric
Duggirala
Gattha
6700
7000
6800
7000
0
Turmeric
Nizamabad
Gattha 100 kg- 60 kg
7300
7400
7600
7800
-400
37000
Turmeric
Nizamabad
Finger
8400
8500
8700
8800
-300
Turmeric
Nizamabad
D P Finger
8600
8700
9100
9200
-500
Turmeric
Nizamabad
D P Gattha
7900
8000
7900
8100
-100
Turmeric
Sangli
Rajapuri
9100
9300
9300
9400
-100
67400
Turmeric
Hingoli.
Gattha
7200
7300
7200
7400
-100
7000
Turmeric
Hingoli.
Finger Rs 100kg - Bag 50Kg
8100
8200
7800
8200
0
Turmeric
Nanded
Gattha Rs 100kg - Bag 70Kg
7200
7700
7500
8000
-300
9000
Turmeric
Nanded
Finger
7200
8700
8200
9000
-300
Jeera
Jeera prices remained lower and spot and futures as well in the last week amid subdued buying but high arrivals. The market is also facing with cash crunch due to which stockiest and traders, and processors as well are buying spices as per their short-term requirements, said a trade analyst.
According to the second advance estimates by Gujarat state agriculture department, jeera production is seen declining to 236980 tons in 2021-22, down 41%year on year. Area is seen at 289000 ha as against 473800 ha a year ago.
Spices Board pegs Apr-Sep jeera exports at 139,295 ton, down 14%.
Commodity
Market
Variety
05-03-2022
26-02-2022
Change
Weekly Arrivals (Approx)
Min
Max
Prev. Min
Prev. Max
Jeera
Unjha
Rough (20 kg)
3300
3400
3550
3650
-250
68000
Jeera
Unjha
Ncdex (20 kg)
3700
3800
3800
3900
-100
Jeera
Unjha
Best Quality (20 kg)
4100
4200
3950
4050
150
Jeera
Unjha
Bomabay BOLD (20 kg)
4200
4300
4100
4200
100
Jeera
Rajkot
Europe Quality (20 kg)
4000
4200
4100
4300
-100
20500
Jeera
Rajkot
Singapore Quality (20 kg)
3800
4000
3900
4100
-100
Jeera
Rajkot
Discolor (20 kg)
3600
3800
3700
3900
-100
Jeera
Rajkot
Super Quality (20 kg)
4200
4300
4300
4400
-100
Jeera
Rajkot
Europe - Mundra (20 kg)
4400
4450
4500
4550
-100
Jeera
Rajkot
Singapore Mundra (20 kg)
4250
4300
4350
4400
-100
Coriander seed
Coriander seed prices were mixed in the spot market last week but futures ended lower amid weak sentiments. Coriander production is seen declining as well to 211680 tons compared to 221240 tons in 2020-21. Exports of spices from India during Apr-Sep declined 8% on year to 780,273 ton, according to data from the Spices Board India.
Commodity
Market
Variety
05-03-2022
26-02-2022
Change
Weekly Arrivals (Approx)
Min
Max
Prev. Min
Prev. Max
Dhaniya
Guna
BADAMI Rs 100kg - (Bag 40kg)
8800
9000
9000
9200
-200
5000
Dhaniya
Guna
SCOOTER
9500
9900
9800
10000
-100
Dhaniya
Guna
EAGLE
9400
9700
9500
9600
100
Dhaniya
Kota
BADAMI Rs 100kg - (Bag 40kg)
8700
9000
8700
9000
0
3200
Dhaniya
Kota
EAGLE
9000
9400
9000
9400
0
Dhaniya
Ramaganj
BADAMI Rs 100kg (Bag
9100
9200
8800
9000
200
52000
Dhaniya
Ramaganj
EAGLE
9500
9600
9500
9600
0
Dhaniya
Baran
BADAMI Rs 100kg (Bag 40kg)
9000
9300
9000
9300
0
7000
Dhaniya
Baran
EAGLE
9300
9600
9300
9600
0
Dhaniya
Kumbhraj
BADAMI
8800
9200
8800
9100
100
13500
Dhaniya
Kumbhraj
EAGLE
9400
9600
9200
9500
100
Dhaniya
Rajkot
BADAMI (20 Kg) Bag 40Kg
1810
1910
1800
1900
10
61000
Dhaniya
Rajkot
Eagle(20 Kg)
1910
1960
1900
1950
10
Dhaniya
Rajkot
SCOOTER (20 Kg)
1960
2010
1950
2000
10
Red Chilli
Red chilli prices settled firm in the physical market last week as buying resumed after recent fall in the prices.
Commodity
Market
Variety
04-03-2022
25-02-2022
Change
Weekly Arrivals (Approx)
Min
Max
Prev. Min
Prev. Max
Chilli
Guntur
334 - 1kg (Bag -35kg)
140
180
140
180
0
335000
Chilli
Guntur
TEJA
140
182
140
182
0
Chilli
Guntur
SYNGENTA
150
210
150
205
5
Chilli
Guntur
273
150
190
150
190
0
Chilli
Guntur
Endo-5:
150
210
160
205
5
Chilli
Guntur
341
170
220
160
210
10
Chilli
Guntur
4884
125
155
125
155
0
Chilli
Guntur
DD
180
210
160
190
20
Chilli
Warangal
334 1kg (Bag - 35kg)
150
180
150
173
7
105000
Chilli
Warangal
TEJA
150
185
150
180
5
Chilli
Warangal
1048
150
170
150
173
-3
Chilli
Warangal
341
180
225
180
222
3
Chilli
Warangal
TOMATO
270
295
250
285
10
Chilli
Warangal
W.HOT
170
225
170
215
10
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