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Weekly: Spice complex unlikely to see a big fall in near term

25 Jul 2022 2:08 pm
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Mumbai, July 25 (Commoditiescontrol) Indian spice complex remained bullish last week after which profit-booking activities may be seen but there is least chance of any big fall in the prices of major spices, like cumin seed, coriander seed, turmeric and red chilli in near term, a trade analyst said.



Particularly, cumin seed and red chilli exhibited firmer trend on strong demand from locals as well the exporters. Low carry over stock of cumin seed is supporting its bullish trend, a trade analyst said.



Cumin seed

Cumin seed prices gained last week by Rs 200-1000 per quintal in the physical markets as per demand for the different varieties.

There are five major factors which are supporting positive prices trend in cumin seed.

These factors are :

1. Low carry over stock

2. Empty pipeline so demand is continuously there

3. China buying jeera post covid

4. Arrival are low as farmers n traders holding stocks

5. Rupee weakness supportive exports

6. Last year sowing acreage of cumin seed dropped as some of its area shifted to other profitable crops.

Commodity

Market

Variety

23-07-2022

16-07-2022

Change

Min

Max

Min

Max

Jeera

Unjha

Rough (20 kg)

3740

3840

3700

3800

40

Jeera

Unjha

Ncdex (20 kg)

4090

4190

4000

4100

90

Jeera

Unjha

Best Quality (20 kg)

4340

4440

4150

4250

190

Jeera

Unjha

Bomabay BOLD (20 kg)

4440

4540

4250

4350

190

Jeera

Rajkot

Europe Quality (20 kg)

4280

4330

4200

4250

80

Jeera

Rajkot

Singapore Quality (20 kg)

4130

4280

4000

4200

80

Jeera

Rajkot

Discolor (20 kg)

3930

4130

3800

4000

130

Jeera

Rajkot

Super Quality (20 kg)

4330

4400

4250

4350

50

Jeera

Rajkot

Europe - Mundra (20 kg)

5000

5025

4800

4850

175

Jeera

Rajkot

Singapore Mundra (20 kg)

4825

4850

4600

4650

200



Red chilli

Red chilli prices continued to trade higher last week and this trend is likely to continue further as crop is reportedly damaged in the heavy rains received recently which raised the concerns of low output and weaker supply further this season. As far as demand is concerned, Indian red chilli has attracted good demand from overseas market and local buyers are also seen active. Prices of some varieties of red chilli have hit a new high.

Commodity

Market

Variety

23-07-2022

16-07-2022

Change

Min

Max

Min

Max

Chilli

Guntur

334 - 1kg (Bag -35kg)

170

265

170

255

10

Chilli

Guntur

TEJA

180

245

175

233

12

Chilli

Guntur

SYNGENTA

220

290

210

280

10

Chilli

Guntur

273

220

280

220

265

15

Chilli

Guntur

Endo-5:

220

280

200

275

5

Chilli

Guntur

341

230

300

230

290

10

Chilli

Guntur

4884

180

220

160

210

10

Chilli

Guntur

DD

230

290

220

275

15

Chilli

Warangal

TEJA

220

250

200

225

25

Chilli

Warangal

341

280

310

240

265

45

Chilli

Warangal

W.HOT

320

356

280

310

46

Chilli

Khammam

TEJA

210

241

220

225

16

Chilli

Khammam

FATKI

130

140

130

130

10



Coriander seed

Coriander seed prices remained mixed in the physical market last week as per the demand and supply of the commodity in the different markets. However, futures ended higher despite a drop nearly 1.5% in the last session due to profit-booking and some more profit-booking activities may be seen this week.

Commodity

Market

Variety

23-07-2022

16-07-2022

Change

Min

Max

Min

Max

Dhaniya

Kota

BADAMI Rs 100kg - (Bag 40kg)

10800

11000

10800

11000

0

Dhaniya

Kota

EAGLE

10700

10800

10700

10800

0

Dhaniya

Ramaganj

BADAMI Rs 100kg (Bag

10800

10900

10800

10900

0

Dhaniya

Ramaganj

EAGLE

11200

11500

11200

11300

200

Dhaniya

Baran

BADAMI Rs 100kg (Bag 40kg)

10800

11000

10800

11000

0

Dhaniya

Baran

EAGLE

11700

11800

11700

11800

0

Dhaniya

Kumbhraj

BADAMI

10800

11000

10800

11000

0

Dhaniya

Kumbhraj

EAGLE

11200

11400

11200

11500

-100

Dhaniya

Guna

BADAMI

10200

10500

10400

10500

0

Dhaniya

Guna

SCOOTER

11800

12200

11800

11900

300

Dhaniya

Guna

EAGLE

10800

11400

10800

11200

200

Dhaniya

Rajkot

BADAMI (20 Kg) Bag 40Kg

2250

2300

2250

2300

0

Dhaniya

Rajkot

Eagle(20 Kg)

2300

2350

2300

2350

0

Dhaniya

Rajkot

SCOOTER (20 Kg)

2350

2400

2350

2400

0



Turmeric

Turmeric prices witnessed mixed trend last week which further extend this week as stocks are sufficient and local demand is slow, a trade analyst said. Turmeric futures ended the week a tad up but the commodity witnessed bearish mood.

Commodity

Market

Variety

23-07-2022

16-07-2022

Change

Min

Max

Min

Max

Turmeric

Erode

Gattha

6300

6500

6300

6500

0

Turmeric

Erode

Finger Rs 100kg - Bag75kg

7300

7500

7300

7500

0

Turmeric

Duggirala

Finger Rs 100kg - Bag70kg

5700

6200

5500

6300

-100

Turmeric

Duggirala

Gattha

5700

6200

5500

6300

-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

8200

8200

8200

0

Turmeric

Nizamabad

D P Gattha

7200

7200

7200

7200

0

Turmeric

Sangli

Kadapa

6000

6600

6000

6500

100

Turmeric

Sangli

Rajapuri

7900

8100

7900

8000

100

Turmeric

Nanded

Gattha Rs 100kg - Bag 70Kg

6000

7200

6000

7200

0

Turmeric

Nanded

Finger

6500

8500

6500

8500

0

Turmeric

Warangal

Gattha Rs 100kg - Bag 60Kg

5800

5800

5800

5800

0

Turmeric

Warangal

Finger

6200

6200

6200

6200

0

Turmeric

Warangal

BULB POLISHED

6900

6900

7000

7000

-100

Turmeric

Warangal

FINGER POLISHED

7000

7000

7100

7100

-100

Turmeric

Kesamudram

Gattha Rs 100kg - Bag 75Kg

5570

5570

5500

5500

70

Turmeric

Kesamudram

Finger

6310

6310

5750

5750

560

(By Commodities control Bureau; +91 9820130172)


       
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