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Weak Ahead: Spice complex likely to see subdued trade at higher prices

21 Mar 2022 1:06 pm
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MUMBAI, 21 March (Commoditiescontrol) Spice complex witnessed bearish mood last week due to slow demand and regular arrivals. Arrivals of the major spices likely, red chilli, coriander and cumin seed are likely to increase after Holi festivals following which prices of most spices may remain under pressure even this week.



Red chilli


Red chilli prices held nearly flat last week and no major change is expected next week as the stockiest and traders are buying as per their short-time requirements. As per the trade analysts, demand is poor as prices have shot up considerably.



The sharp increase in the price of red chilli was seen due to a virulent attack by a new invasive thrips virus in a major part of Telangana. around 90% of the four lakh acres under red chillies crop in Telangana reportedly damaged by the virus attack. has been completely damaged by the virus. However, demand from pickle industry is expected, that’s why the spice complex is unlikely to see in big fall in chilli prices.

Commodity

Market

Variety

17-03-2022

11-03-2022

Change

Weekly Arrivals (Approx)

Min

Max

Prev. Min

Prev. Max

Chilli

Guntur

334 - 1kg (Bag -35kg)

140

183

140

184

-1

415000

Chilli

Guntur

TEJA

140

183

140

184

-1

Chilli

Guntur

SYNGENTA

150

205

150

205

0

Chilli

Guntur

273

150

190

150

190

0

Chilli

Guntur

Endo-5:

160

220

160

220

0

Chilli

Guntur

341

180

220

190

220

0

Chilli

Guntur

4884

125

155

125

155

0

Chilli

Guntur

DD

180

215

190

215

0

Chilli

Warangal

334 1kg (Bag - 35kg)

150

180

160

180

0

135000

Chilli

Warangal

TEJA

150

176

150

178

-2

Chilli

Warangal

1048

160

180

160

185

-5

Chilli

Warangal

341

180

225

180

225

0

Chilli

Warangal

TOMATO

380

440

280

360

80

Chilli

Warangal

W.HOT

180

235

180

232

3

Chilli

Khammam

TEJA

175

185

175

184

1

120000

Chilli

Khammam

FATKI

110

110

105

105

5

Cumin Seed



Cumin seed market witnessed bearish mood last week due to slow demand and arrival pressure which will continued but prices are unlikely to see more downsides as crop-size is low, said an analyst.



Arrivals pressure is likely to increase in the next 10-15 days following which prices are expected to fall after Holi, said another trade analyst. According to him, some further fall in prices is expected. Due to this, local traders are buying to fulfil the requirement. The activity of speculators in the futures market has started decreasing in cumin seed, due to which there has been a significant decline in the futures market this week. Cumin exports are expected to fall after the re-outbreak of the corona virus in China. Along with this, the pressure on the prices may increase with rising arrival pressure in the spot markets.

Commodity

Market

Variety

19-03-2022

12-03-2022

Change

Weekly Arrivals (Approx)

Min

Max

Prev. Min

Prev. Max

Jeera

Unjha

Rough (20 kg)

3500

3600

3550

3650

-50

81000

Jeera

Unjha

Ncdex (20 kg)

3850

3950

3900

4000

-50

Jeera

Unjha

Best Quality (20 kg)

4050

4150

4100

4200

-50

Jeera

Unjha

Bomabay BOLD (20 kg)

4300

4400

4350

4450

-50

Jeera

Rajkot

Europe Quality (20 kg)

4000

4150

4200

4300

-150

16000

Jeera

Rajkot

Singapore Quality (20 kg)

3800

4000

4000

4200

-200

Jeera

Rajkot

Discolor (20 kg)

3300

3800

3700

4000

-200

Jeera

Rajkot

Super Quality (20 kg)

4150

4400

43000

4400

0

Jeera

Rajkot

Europe - Mundra (20 kg)

4450

4500

4600

4650

-150

Jeera

Rajkot

Singapore Mundra (20 kg)

4150

4200

4250

4300

-100

Turmeric

Turmeric prices also dropped last week due to weak demand in the shortened trading week due the vacation of Holi festical. However, demand is expected to revive this wekk but there is less chance of any big rally its prices. As per the trade analyst turmeric prices are likely to remain sideways.

Commodity

Market

Variety

17-03-2022

11-03-2022

Change

Weekly Arrivals (Approx)

Min

Max

Prev. Min

Prev. Max

Turmeric

Erode

Gattha

6800

7000

7200

7400

-400

22500

Turmeric

Erode

Finger Rs 100kg - Bag75kg

7500

7700

8000

8200

-500

Turmeric

Duggirala

Finger Rs 100kg - Bag70kg

6500

6800

6700

7050

-250

1250

Turmeric

Duggirala

Gattha

6500

6800

6700

7050

-250

Turmeric

Nizamabad

Gattha 100 kg- 60 kg

6900

7000

7300

7400

-400

28000

Turmeric

Nizamabad

Finger

8400

8500

8400

8500

0

Turmeric

Nizamabad

D P Finger

8600

8800

8600

8700

100

Turmeric

Nizamabad

D P Gattha

7600

7700

7900

8000

-300

Turmeric

Sangli

Rajapuri

8300

8400

8200

8300

100

84000

Turmeric

Hingoli.

Gattha

5800

6700

7000

7100

-400

4000

Turmeric

Hingoli.

Finger Rs 100kg - Bag 50Kg

8000

8100

7200

8000

100

Turmeric

Nanded

Gattha Rs 100kg - Bag 70Kg

6200

7000

6800

7300

-300

6000

Turmeric

Nanded

Finger

6900

8600

7000

8500

100

Turmeric

Warangal

Gattha Rs 100kg - Bag 60Kg

6400

6400

6400

6500

-100

650

Turmeric

Warangal

Finger

6700

6700

6600

6800

-100

Turmeric

Warangal

BULB POLISHED

7300

7300

7200

7200

100

Turmeric

Warangal

FINGER POLISHED

7400

7400

7400

7400

0

Turmeric

Kesamudram

Gattha Rs 100kg - Bag 75Kg

5800

5800

5300

6500

-700

1196

Turmeric

Kesamudram

Finger

6800

6800

6450

7000

-200

(By Commoditiescontrol Bureau; +91-22-40015513)


       
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