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Week ahead: Spice market may witness firmness on fresh buying at lower level

6 Jun 2022 11:09 am
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Mumbai, June 6 (Commoditiescontrol) The domestic spice market is likely to see firmness on fresh buying at lower level this week. Most of the spices have witnessed bearish tone in recent past due to lacklustre buying from the processors and the stockiest while arrivals of some spices increased which pressured their prices to trade in lower range.


With onset of monsoon, the demand for spices from the consumption centres is likely increase while rains may interrupt supply and the effect of any mismatch in demand and regular supply will reflect on the prices of spices, a trade analyst said.



Cumin seed

Cumin seed prices were steady/down in the physical markets and the futures also settled a little lower last week but it will witness improved buying at lower level and overall market trend is expected to remain firm, a trade analyst anticipated. They have to say that lower crop size of cumin seed is a positive factor for uptrend in its prices. At the same time, export demand for cumin seed is likely to increase with opening up the Chinese market as China is a major buyer of Indian spices.

Commodity

Market

Variety

04-06-2022

28-05-2022

Change

Min

Max

Min

Max

Jeera

Unjha

Rough (20 kg)

3550

3650

3650

3750

-100

Jeera

Unjha

Ncdex (20 kg)

3850

3950

3950

4050

-100

Jeera

Unjha

Best Quality (20 kg)

4150

4250

4150

4250

0

Jeera

Unjha

Bomabay BOLD (20 kg)

4350

4450

4350

4450

0

Jeera

Rajkot

Europe Quality (20 kg)

3900

4000

3900

4000

0

Jeera

Rajkot

Singapore Quality (20 kg)

3770

3870

3750

3870

0

Jeera

Rajkot

Discolor (20 kg)

3550

3750

3550

3700

50




Turmeric

Turmeric prices witnessed mixed trend in the previous week amid moderate demand and supply in the physical markets. However, most of the markets saw steady tone and same was observed at Futures trading. Area under turmeric is expected to increase this year as farmers have received good prices of turmeric and they have taken much interest in its cultivation, a trade analyst said.

Commodity

Market

Variety

04-06-2022

28-05-2022

Change

Min

Max

Min

Max

Turmeric

Erode

Gattha

6200

6400

6200

6400

0

Turmeric

Erode

Finger Rs 100kg - Bag75kg

7200

7400

7200

7400

0

Turmeric

Duggirala

Finger Rs 100kg - Bag70kg

5500

6000

5500

6000

0

Turmeric

Duggirala

Gattha

5500

6000

5500

6000

0

Turmeric

Nizamabad

Gattha 100 kg- 60 kg

6900

7000

6800

6900

100

Turmeric

Nizamabad

Finger

8100

8200

8200

8300

-100

Turmeric

Nizamabad

D P Finger

8400

8500

8500

8500

0

Turmeric

Nizamabad

D P Gattha

7300

7400

7400

7400

0

Turmeric

Sangli

Kadapa

5700

6700

5600

6600

100

Turmeric

Sangli

Rajapuri

6400

8200

6300

8100

100

Turmeric

Nanded

Gattha Rs 100kg - Bag 70Kg

6050

6650

6000

6600

50

Turmeric

Nanded

Finger

7000

7500

7000

7400

100

Turmeric

Warangal

Gattha Rs 100kg - Bag 60Kg

5800

5800

6100

6100

-300

Turmeric

Warangal

Finger

6100

6100

6400

6400

-300

Turmeric

Warangal

BULB POLISHED

6800

6800

6800

6800

0

Turmeric

Warangal

FINGER POLISHED

7000

7000

7000

7000

0

Turmeric

Kesamudram

Gattha Rs 100kg - Bag 75Kg

6100

6100

6100

6100

0

Turmeric

Kesamudram

Finger

6800

6800

6650

6650

150




Coriander seed

Coriander seed prices were mixed in the physical market last week and more or less similar trend may be observed this week as prices of coriander seed mostly depend on demand and daily supply of the spice in the market yard. With onset of monsoon, the farmers are seen interested in liquidating their stocks of most of the crops as they need money to meet the expenses of kharif crops, a trade analyst said. Hence, higher prices will limit the upsides while demand for coriander seed from the consumption centres is expected to remain firm, supporting positive sentiment.

Commodity

Market

Variety

04-06-2022

28-05-2022

Change

Min

Max

Min

Max

Dhaniya

Kota

BADAMI Rs 100kg - (Bag 40kg)

9000

9700

9300

9900

-200

Dhaniya

Kota

EAGLE

9500

10200

9600

10400

-200

Dhaniya

Ramaganj

BADAMI Rs 100kg (Bag

10100

10300

9500

9800

500

Dhaniya

Ramaganj

EAGLE

10500

10600

10000

10200

400

Dhaniya

Baran

BADAMI Rs 100kg (Bag 40kg)

10400

10500

10300

10500

0

Dhaniya

Baran

EAGLE

10500

10700

10500

10700

0

Dhaniya

Kumbhraj

BADAMI

10000

10400

9500

10200

200

Dhaniya

Kumbhraj

EAGLE

10600

10800

10400

10700

100

Dhaniya

Guna

BADAMI

9500

9800

9500

10000

-200

Dhaniya

Guna

SCOOTER

11000

11800

11000

11600

200

Dhaniya

Guna

EAGLE

10000

10500

10000

10500

0



Red chilli

Red chilli witnessed slack business last week but prices of chilli are likely to improve with increased demand and supply as the trading activities will resume today at Khammam after long gap as the trading remained suspended at Khammam over a fortnight.


The trading is still suspended at the market yard of Guntur, a major trading centre of south India. Guntur market will reopen on June 12, 2022.



The chilli exports in 2021-22 were almost steady in terms of value as per the available data of the Spices Board. India exported 435,724 tonnes worth Rs 6522 crore during April-December 2021-22. However, there is only marginal decline in the value, the volumes are down by 8% compared to the previous year.



As India consumes majority of chillies produced here, a pick-up in the domestic demand after the monsoon could push up the prices further. Regular traders need a variety of chillies for blending which could be in short supply. The quantity of their purchases will depend on the prices.

Commodity

Market

Variety

04-06-2022

28-05-2022

Change

Min

Max

Min

Max

Chilli

Warangal

TEJA

140

160

140

161

-1

Chilli

Warangal

341

120

160

150

175

-15

Chilli

Warangal

W.HOT

170

220

170

205

15


       
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