4 C
New York
Sunday, February 25, 2024

India Spices: Most down on higher arrivals post-Holi; chilli flat

Informist, Monday, Mar 21, 2022

 

By Kavita Desai

 

MUMBAI – Futures contracts of most spices on domestic exchanges fell today due to a sharp rise in arrivals in the spot markets. Prices of chilli in Guntur, Andhra Pradesh, remained steady, said market participants.

 

* Futures contracts of CORIANDER and JEERA ended lower on the National Commodity and Derivatives Exchange due to increase in arrivals in the key trading centres post-Holi.

 

* Despite higher arrivals, prices of jeera and coriander in key spot markets remained steady due to firm demand from local stockists and masala manufactures.

 

* In Rajasthan’s Ramganj market, the badami variety of coriander was sold at 11,000 rupees per 100 kg and the eagle variety at 11,500 rupees, both steady from Saturday. Arrivals were pegged at 35,000 bags (1 bag = 45 kg), compared with 15,000 bags the previous day.

 

* In the benchmark market of Unjha, Gujarat, exchange-quality jeera was steady at 21,000-21,500 rupees per 100 kg. Arrivals were pegged at 25,000 bags (1 bag = 55 kg), compared with 14,000 bags on Saturday.

 

TURMERIC futures on domestic bourse fell over 1% due to weak demand as there are no new orders, said Vikas Nagla, a trader in Telangana’s benchmark Nizamabad market.

 

* A surge in arrivals post-Holi in Nizamabad also weighed on prices. The market was closed for the past few days on account of a local festival. Arrivals were pegged at 45,000 bags (1 bag = 65 kg) today.

 

* Prices of CHILLI in the benchmark market of Guntur, Andhra Pradesh, remained steady as the rise in arrivals was offset by firm demand from local stockists after markets were shut on Friday because of Holi, said Satish Degala, a local trader.

 

* The Teja variety was quoted at 17,500 rupees per 100 kg, and the LCA-334 variety at 18,000 rupees. Arrivals were pegged at 150,000 bags (1 bag = 40 kg), compared with 75,000 bags on Thursday. 

 

Following are the prices of the most-active contracts of spices as of 1700 IST:

 

Contract Exchange

Unit

(kg)

Price

(rupees)

Change

(rupees)

Coriander AprNCDEX10010,610(-) 44Jeera AprNCDEX10020,760(-) 55Turmeric AprNCDEX1008,540(-)118

 

* Following are the expected support and resistance levels for contracts of spices for trade on Tuesday:

 

CONTRACT

SUPPORT

(rupees)

RESISTANCE

(rupees)

Coriander 

10,34010,850

Jeera

20,38021,160

Turmeric

8,2808,850

 

 

 

 

 

End

 

Edited by Tanima Banerjee

 

Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to [email protected]

 

© Informist Media Pvt. Ltd. 2022. All rights reserved.

Source: Cogencis

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,268FansLike
12,893FollowersFollow
730FollowersFollow
- Advertisement -

Latest Articles

Popular Articles