Mumbai, 28 May (Commoditiescontrol) Indian spice complex remained bearish this week due to subdued demand for major spices like cumin seed, red chilli and coriander from the stockiest and the processors as well. The export demand for spices also remained subdued.
Apart from this, the major reason for bearish trend in spice market is the crisis of liquidity, a trade analyst said. The stockiest don’t want to keep high stocks, rather they buy as per the short-term demand, he added.
Speculations in future trade also dictate physical markets of the spices, the analyst said.
Coriander
Coriander seed prices dropped sharply in the physical market this week due to subdued demand and higher arrivals. As per the market sources, buyers mostly stayed away while arrivals increased as the farmers are liquidating their stocks as they need money for next kharif cropping.
Prices of coriander were down by Rs 100-600 per quintal on a weekly basis and the sharpest fall in the prices were witnessed at Kota.
Coriander seed futures also ended lower on the NCDEX this week. June contract of coriander seed ended at Rs 11190 per quintal on Friday against 11444 per quintal in the same day a week earlier.
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|
Commodity
|
Market
|
Variety
|
28-05-2022
|
21-05-2022
|
Change
|
|
Min
|
Max
|
Prev. Min
|
Prev. Max
|
|
Dhaniya
|
Kota
|
BADAMI Rs 100kg - (Bag 40kg)
|
9300
|
9900
|
10400
|
10500
|
-600
|
|
Dhaniya
|
Kota
|
EAGLE
|
9600
|
10400
|
10500
|
11000
|
-600
|
|
Dhaniya
|
Ramaganj
|
BADAMI Rs 100kg (Bag
|
9500
|
9800
|
10200
|
10300
|
-500
|
|
Dhaniya
|
Ramaganj
|
EAGLE
|
10000
|
10200
|
10500
|
10700
|
-500
|
|
Dhaniya
|
Baran
|
BADAMI Rs 100kg (Bag 40kg)
|
10300
|
10500
|
10600
|
10700
|
-200
|
|
Dhaniya
|
Baran
|
EAGLE
|
10500
|
10700
|
10800
|
10900
|
-200
|
|
Dhaniya
|
Kumbhraj
|
BADAMI
|
9500
|
10200
|
10200
|
10300
|
-100
|
|
Dhaniya
|
Kumbhraj
|
EAGLE
|
10400
|
10700
|
10600
|
10800
|
-100
|
|
Dhaniya
|
Guna
|
BADAMI
|
9500
|
10000
|
9500
|
10000
|
0
|
|
Dhaniya
|
Guna
|
SCOOTER
|
11000
|
11600
|
11500
|
12000
|
-400
|
|
Dhaniya
|
Guna
|
EAGLE
|
10000
|
10500
|
10500
|
11000
|
-500
|
|
|
Cumin seed
Cumin seed prices also declined this week due to weak demand from local buyers and the exporters as well. The major physical market of Unjha witnessed a fall by Rs 50 per bag of 20 kg each this week amid volatile trade.
However, prices of cumin seed are expected to remain firm ahead.
As per the trade analysts, cumin seed prices are likely to remain firm in the long term the crop size is low. According to them crop size is nearly 40% lower in the major producing states of Gujarat and Rajasthan while export demand is expected to remain firm.
For the 2021-22 season, cumin sowing in Gujarat was restricted to little over 3 lakh hectares compared to previous year’s 4.70 lakh hectares. Same is the case with neighbouring Rajasthan, which registered a 20% reduction in acreage.
That’s the reason futures ended nearly flat on a weekly basis.
At National Commodity and Derivatives Exchange (NCDEX), cumin seed futures for delivery in June ended at Rs 21460 per quintal on Friday against 21555 per quintal in the corresponding last week.
|
Commodity
|
Market
|
Variety
|
28-05-2022
|
21-05-2022
|
Change
|
|
Min
|
Max
|
Prev. Min
|
Prev. Max
|
|
Jeera
|
Unjha
|
Rough (20 kg)
|
3650
|
3750
|
3700
|
3800
|
-50
|
|
Jeera
|
Unjha
|
Ncdex (20 kg)
|
3950
|
4050
|
4000
|
4100
|
-50
|
|
Jeera
|
Unjha
|
Best Quality (20 kg)
|
4150
|
4250
|
4200
|
4300
|
-50
|
|
Jeera
|
Unjha
|
Bomabay BOLD (20 kg)
|
4350
|
4450
|
4400
|
4500
|
-50
|
|
Jeera
|
Rajkot
|
Europe Quality (20 kg)
|
3900
|
4000
|
3950
|
4050
|
-50
|
|
Jeera
|
Rajkot
|
Singapore Quality (20 kg)
|
3750
|
3870
|
3800
|
3900
|
-30
|
|
Jeera
|
Rajkot
|
Discolor (20 kg)
|
3550
|
3700
|
3600
|
3800
|
-100
|
|
|
|
Turmeric
Turmeric prices also closed the week with bearish tone in most of the markets. However, no change in the prices of turmeric were observed at Nizamabad on a weekly basis. Nanded market witnessed firmer tone and prices were Rs 100 per quintal up from the last weeks closing.
|
Commodity
|
Market
|
Variety
|
28-05-2022
|
21-05-2022
|
Change
|
|
Min
|
Max
|
Prev. Min
|
Prev. Max
|
|
Turmeric
|
Erode
|
Gattha
|
6200
|
6400
|
6000
|
6200
|
200
|
|
Turmeric
|
Erode
|
Finger Rs 100kg - Bag75kg
|
7200
|
7400
|
7000
|
7200
|
200
|
|
Turmeric
|
Duggirala
|
Finger Rs 100kg - Bag70kg
|
5500
|
6000
|
5500
|
6200
|
-200
|
|
Turmeric
|
Duggirala
|
Gattha
|
5500
|
6000
|
5500
|
6200
|
-200
|
|
Turmeric
|
Nizamabad
|
Gattha 100 kg- 60 kg
|
6800
|
6900
|
6800
|
6900
|
0
|
|
Turmeric
|
Nizamabad
|
Finger
|
8200
|
8300
|
8200
|
8300
|
0
|
|
Turmeric
|
Nizamabad
|
D P Finger
|
8500
|
8500
|
8500
|
8500
|
0
|
|
Turmeric
|
Nizamabad
|
D P Gattha
|
7400
|
7400
|
7400
|
7400
|
0
|
|
Turmeric
|
Sangli
|
Kadapa
|
5600
|
6600
|
5800
|
6800
|
-200
|
|
Turmeric
|
Sangli
|
Rajapuri
|
6300
|
8100
|
7900
|
8000
|
|
|
Turmeric
|
Nanded
|
Gattha Rs 100kg - Bag 70Kg
|
6000
|
6600
|
6000
|
6500
|
100
|
|
Turmeric
|
Nanded
|
Finger
|
7000
|
7400
|
7000
|
7300
|
100
|
|
Turmeric
|
Warangal
|
Gattha Rs 100kg - Bag 60Kg
|
6100
|
6100
|
6100
|
6100
|
0
|
|
Turmeric
|
Warangal
|
Finger
|
6400
|
6400
|
6500
|
6500
|
-100
|
|
Turmeric
|
Warangal
|
BULB POLISHED
|
6800
|
6800
|
7200
|
7200
|
-400
|
|
Turmeric
|
Warangal
|
FINGER POLISHED
|
7000
|
7000
|
7300
|
7300
|
-300
|
|
Turmeric
|
Kesamudram
|
Gattha Rs 100kg - Bag 75Kg
|
6100
|
6100
|
5900
|
6100
|
0
|
|
Turmeric
|
Kesamudram
|
Finger
|
6650
|
6650
|
5900
|
5900
|
750
|
Red chilli
Red chilli prices also remained in lower range in the market of Warangal due to weak demand and supply as other major markets like Guntur and Khammam were closed.
As per the trade analysts, export demand for chilli is week and its demand from local pickle industry is not as much as expected earlier.
| |
|
Commodity
|
Market
|
Variety
|
28-05-2022
|
21-05-2022
|
Change
|
|
Min
|
Max
|
Prev. Min
|
Prev. Max
|
|
Chilli
|
Warangal
|
TEJA
|
140
|
161
|
140
|
165
|
-4
|
|
Chilli
|
Warangal
|
341
|
150
|
175
|
160
|
185
|
-10
|
|
Chilli
|
Warangal
|
W.HOT
|
170
|
205
|
170
|
196
|
9
|
|
|
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