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Week Ahead: Spice complex likely to continue its firm trend

4 Jul 2022 8:47 am
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Mumbai, July 4 (Commoditiescontrol) The spice complex remained bullish last week after sluggish activities witnessed in past two months and the prices of major spices like cumin seed, coriander seed and red chilli are likely to see further upsides due to interrupted arrivals. Monsoon has covered entire the country 6 days ahead of its normal schedule and major spice growing belts like Gujarat, Rajasthan and Madhya Pradesh and others are witnessing good rainfall which may affect arrivals of spices in the major trading centres located in these states.


As per the trade analysts, balance-sheet in coriander seed and cumin seed is also tight which will extend support to their prices. The farmers took much interest in cultivation of mustard seed last year and some area of the coriander seed and cumin seed was shifted to mustard following which the area under cumin seed and coriander seed contracted, therefore, production also declined, Ajay Kedia, Director Kedia Advisory said.



At the same time, demand for coriander seed, and cumin seed is likely to improve, he added

Cumin seed



Cumin seed prices rose Rs 50-230 per 20 kg as per the demand for different varieties in the markets of Unjha and Rajkot last week. The physical market witnessed good buying activities and supply remained weak which led a good jump in the prices of cumin seed.



On the National Commodity and Derivatives Exchange, July contract of cumin seed added Rs 530 or 2.5% to end at Rs 21600 per quintal.

China is the major buyer of Indian cumin seed and there was COVID-19 induced interruption during the months of May and June in Chinese market, that’s why export demand for cumin seed were slow but Chinese market is now open and fresh export demand is likely to be seen in coming days, the market analyst said.

Commodity

Market

Variety

02-07-2022

25-06-2022

Change

Min

Max

Min

Max

Jeera

Unjha

Rough (20 kg)

3570

3670

3520

3620

50

Jeera

Unjha

Ncdex (20 kg)

3820

3920

3770

3870

50

Jeera

Unjha

Best Quality (20 kg)

4020

4120

4020

4120

0

Jeera

Unjha

Bomabay BOLD (20 kg)

4270

4370

4220

4320

50

Jeera

Rajkot

Europe Quality (20 kg)

4000

4100

3870

3970

130

Jeera

Rajkot

Singapore Quality (20 kg)

3900

4000

3670

3870

130

Jeera

Rajkot

Discolor (20 kg)

3700

3900

3470

3670

230

Jeera

Rajkot

Super Quality (20 kg)

4100

4200

3970

4070

130

Jeera

Rajkot

Europe - Mundra (20 kg)

4550

4600

4470

4520

80

Jeera

Rajkot

Singapore Mundra (20 kg)

4350

4400

4320

4370

30

Coriander seed

Coriander seed prices remained flat at Kota last week but other markets like Ramganj, Rajkot, Guna, Baran and Kumbhraj witnessed a significant rise by Rs 250-700 per quintal. Interrupted arrivals and increased demand after recent fall in the prices of coriander seed supported its prices. The firmness in spice complex, particularly in the prices of cumin seed underpinned coriander seed, as per the trade analysts.

July contract of coriander seed gained 2.7% on a weekly basis to end Rs 11382 per quintal on the NCDEX.

Commodity

Market

Variety

02-07-2022

25-06-2022

Change

Min

Max

Min

Max

Dhaniya

Kota

BADAMI Rs 100kg - (Bag 40kg)

9000

9500

9000

9500

0

Dhaniya

Kota

EAGLE

9500

10000

9500

10000

0

Dhaniya

Ramaganj

BADAMI Rs 100kg (Bag

10300

10400

9500

9800

600

Dhaniya

Ramaganj

EAGLE

10500

10700

10000

10000

700

Dhaniya

Baran

BADAMI Rs 100kg (Bag 40kg)

10400

10800

10000

10400

400

Dhaniya

Baran

EAGLE

10800

11200

10400

10800

400

Dhaniya

Kumbhraj

BADAMI

10500

10600

10400

10600

0

Dhaniya

Kumbhraj

EAGLE

10800

11000

10700

10900

100

Dhaniya

Guna

BADAMI

10000

10500

10000

10300

200

Dhaniya

Guna

SCOOTER

11500

11700

11000

11500

200

Dhaniya

Guna

EAGLE

10800

11200

10400

10800

400

Dhaniya

Rajkot

BADAMI (20 Kg) Bag 40Kg

2100

2150

2000

2050

100

Dhaniya

Rajkot

Eagle(20 Kg)

2150

2200

2050

2100

100

Dhaniya

Rajkot

SCOOTER (20 Kg)

2200

2250

2100

2150

100

Turmeric

Turmeric prices gained Rs 100 per quintal in the market of Erode and Duggirala last week. But prices remained unchanged in the benchmark market of Nizamabad and Sangli. Warangal and Keshamundram markets witnessed bearish mood and prices were down by Rs 100-300 per quintal.

Turmeric futures for delivery in July gained 1.5% last week.

As per the trade analysts, area under turmeric is likely to remain lower as the farmers are seen interested in cultivation of soybean and cotton which fetched good prices. But, this doesn’t reflect in its prices as there is adequate stocks of turmeric which keeps the prices under pressure. However, prices of turmeric remained mostly firm in last 15 days.

Commodity

Market

Variety

02-07-2022

25-06-2022

Change

Min

Max

Min

Max

Turmeric

Erode

Gattha

6300

6500

6200

6400

100

Turmeric

Erode

Finger Rs 100kg - Bag75kg

7300

7500

7200

7400

100

Turmeric

Duggirala

Finger Rs 100kg - Bag70kg

5500

6200

5500

6100

100

Turmeric

Duggirala

Gattha

5500

6200

5500

6100

100

Turmeric

Nizamabad

Gattha 100 kg- 60 kg

6800

6800

6800

6800

0

Turmeric

Nizamabad

Finger

8000

8000

8000

8000

0

Turmeric

Nizamabad

D P Finger

8200

8400

8200

8400

0

Turmeric

Nizamabad

D P Gattha

7300

7300

7300

7300

0

Turmeric

Sangli

Kadapa

6200

6400

6200

6400

0

Turmeric

Sangli

Rajapuri

8000

8000

8000

8000

0

Turmeric

Nanded

Gattha Rs 100kg - Bag 70Kg

6200

7000

6200

7000

0

Turmeric

Nanded

Finger

6400

8300

6400

8200

100

Turmeric

Warangal

Gattha Rs 100kg - Bag 60Kg

5700

5700

5900

5900

-200

Turmeric

Warangal

Finger

6200

6200

6300

6300

-100

Turmeric

Warangal

BULB POLISHED

7000

7000

7200

7200

-200

Turmeric

Warangal

FINGER POLISHED

7200

7200

7400

7400

-200

Turmeric

Kesamudram

Gattha Rs 100kg - Bag 75Kg

5550

5550

5450

5450

100

Turmeric

Kesamudram

Finger

5860

5860

6160

6160

-300

Red Chilli

Red chilli prices also remained firm last week on good buying activities. Prices of different varieties of red chilli rose Rs 5-20 per kg on a weekly basis. The demand for red chilli is likely to remain firm ahead, an analyst said.

Commodity

Market

Variety

02-07-2022

25-06-2022

Change

Min

Max

Min

Max

Chilli

Guntur

334 - 1kg (Bag -35kg)

180

250

175

240

10

Chilli

Guntur

TEJA

170

215

180

210

5

Chilli

Guntur

SYNGENTA

180

255

180

250

5

Chilli

Guntur

273

180

230

180

230

0

Chilli

Guntur

Endo-5:

180

260

180

250

10

Chilli

Guntur

341

180

270

180

270

0

Chilli

Guntur

4884

160

200

160

200

0

Chilli

Guntur

DD

180

260

180

260

0

Chilli

Warangal

TEJA

200

225

180

212

13

Chilli

Warangal

341

230

260

230

250

10

Chilli

Warangal

W.HOT

250

280

240

265

15

Chilli

Khammam

TEJA

200

220

200

212

8

Chilli

Khammam

FATKI

135

135

115

115

20


       
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