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Weak Ahead: Domestic spice market likely to see improved activities

13 Jun 2022 12:07 pm
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Mumbai, June 13 (Commoditiescontrol) The domestic spice market observed mixed trend in prices of different spices like cumin seed, coriander seed, turmeric and red chilli last week and same trend is likely to continue further this week as no major change in the prices of any above spices is seen. However, interrupted arrivals due to rainfall in the particular market will boost their pries. Also, the season of mango is on the last leg and with end of mango season, the consumption demand for vegetables, pulses and non-veg items will increase following which demand for spices will also increase.



Cumin seed



Cumin seed prices gained last week but it is likely to remain in limited range this week as export demand is still subdued. As per the trade analysts, cumin seed prices will remain stable or range-bound until, exports demand does not improve. However, it is unlikely to see downside movement as crop-size is down this year. Most qualities of cumin seed gained Rs 10-20 per bag of 20kg each in the market of Unjha and Rajkot but Best quality and Bombay Bold declined Rs 90 and Rs 40 per 20kg each respectively due to weak demand. Cumin seed futures also declined a bit on the NCDExl

Commodity

Market

Variety

11-06-2022

04-06-2022

Change

Min

Max

Min

Max

Jeera

Unjha

Rough (20 kg)

3560

3660

3550

3650

10

Jeera

Unjha

Ncdex (20 kg)

3860

3960

3850

3950

10

Jeera

Unjha

Best Quality (20 kg)

4060

4160

4150

4250

-90

Jeera

Unjha

Bombay BOLD (20 kg)

4310

4410

4350

4450

-40

Jeera

Rajkot

Europe Quality (20 kg)

3900

4000

3900

4000

0

Jeera

Rajkot

Singapore Quality (20 kg)

3780

3880

3770

3870

10

Jeera

Rajkot

Discolor (20 kg)

3600

3770

3550

3750

20



Coriander seed

Coriander seed prices remained in the limited range with some gains in most of the physical markets As per the trade analysts, same trend is likely to continue this week as no major change in the prices of coriander seed is expected in near term. The fluctuation in the prices of coriander seed is seen as per the daily demand and supply. If any market receives higher supplies, prices remain lower and vice-versa.



Like, Kota market witnessed a drop of Rs 200 per quintal in the prices of coriander seed due to slack activities. Prices of Badami and Eagle brands dropped Rs 300 and Rs 400 per quintal respectively in the market of Ramganj, a major trading centre of coriander seed trade as the bulk buyers stayed away.



Coriander seed futures remained almost steady on the NCDEX last week.

Commodity

Market

Variety

11-06-2022

04-06-2022

Change

Min

Max

Min

Max

Dhaniya

Kota

BADAMI Rs 100kg - (Bag 40kg)

9000

9500

9000

9700

-200

Dhaniya

Kota

EAGLE

9500

10000

9500

10200

-200

Dhaniya

Ramaganj

BADAMI Rs 100kg (Bag

9800

10000

10100

10300

-300

Dhaniya

Ramaganj

EAGLE

10000

10200

10500

10600

-400

Dhaniya

Baran

BADAMI Rs 100kg (Bag 40kg)

10500

10600

10400

10500

100

Dhaniya

Baran

EAGLE

10600

10800

10500

10700

100

Dhaniya

Kumbhraj

BADAMI

10100

10500

10000

10400

100

Dhaniya

Kumbhraj

EAGLE

10700

11000

10600

10800

200

Dhaniya

Guna

BADAMI

9500

10000

9500

9800

200

Dhaniya

Guna

SCOOTER

11500

12000

11000

11800

200

Dhaniya

Guna

EAGLE

10500

10800

10000

10500

300

Turmeric

Turmeric prices remained mixed in the physical markets amid moderate trade while futures held a tad up. However, the market analysts of the opinion that prices of turmeric may remain firm in the coming sessions as monsoon is in progress and during rainy season demand for turmeric usually remains strong. Some of the markets like Nanded witnessed a jump of over Rs 500 per quintal on a weekly basis. However, downward movement was observed in the other major markets due to weak demand and increased arrivals.


As per the trade sources, liquidity crisis is one the reasons for subdued demand for spices. However, with improved demand, prices are likely to increase in near term, he added.



Turmeric futures for June delivery ended at Rs 8028 on Friday, Rs 24 up on a weekly basis.

Commodity

Market

Variety

11-06-2022

04-06-2022

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

6800

6900

6900

7000

-100

Turmeric

Nizamabad

Finger

8000

8000

8100

8200

-200

Turmeric

Nizamabad

D P Finger

8100

8200

8400

8500

-300

Turmeric

Nizamabad

D P Gattha

7300

7400

7300

7400

0

Turmeric

Sangli

Kadapa

6700

6800

5700

6700

100

Turmeric

Sangli

Rajapuri

8000

8200

6400

8200

0

Turmeric

Nanded

Gattha Rs 100kg - Bag 70Kg

7000

7200

6050

6650

550

Turmeric

Nanded

Finger

8000

9000

8000

8500

500

Turmeric

Warangal

Gattha Rs 100kg - Bag 60Kg

5700

5700

5800

5800

-100

Turmeric

Warangal

Finger

6000

6000

6100

6100

-100

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

5500

5570

6100

6100

-530

Turmeric

Kesamudram

Finger

6100

6250

6800

6800

-550

Red chilli

Red chilli prices remained bearish last week in the physical market due to weak demand and supply but activities are likely to improve this week as a major trading centre of South India is reopening this week after a long interval. The trade analysts have to say that activities will improve with increased demand and supply but prices are likely to remain in limited range as the buyers are in wait and watch mood. They are buying to meet regular demand only.


Commodity

Market

Variety

11-06-2022

04-06-2022

Change

Min

Max

Min

Max

Chilli

Warangal

TEJA

130

160

140

160

0

Chilli

Warangal

341

130

155

120

160

-5

Chilli

Warangal

W.HOT

180

210

170

220

-10


       
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