Informist, Thursday, Oct 14, 2021
By Kavita Desai
MUMBAI – Futures contracts of spices ended higher on domestic exchanges today.
* JEERA contracts on the National Commodity and Derivatives Exchange ended higher as demand is expected to gain pace and because of a likely fall in acreage, said Pawan Agarwal, a trader in Unjha, Gujarat.
* Farmers may opt for alternative crops, such as isabgol and mustard, for lucrative returns. Sowing of jeera for the new season will start post Diwali in Gujarat and Rajasthan.
* CORIANDER futures closed higher due to lower arrivals owing to the Navratri festival. Arrivals in Kota and Baran combined were pegged at 1,000 bags (1 bag = 45 kg), compared with 2,000 bags from Wednesday, said Satyanarayan Gupta, a trader in Kota.
* Ramganj, another key trading centre for coriander in rajasthan is shut due to the Navratri.
* TURMERIC contracts ended higher due to short covering. Higher production estimate for the 2021-22 (Jul-Jun) season and huge carryover, however capped the upside.
* Telangana’s Nizamabad market for turmeric is shut today due to the Navratri festival and will resume trade on Monday, said traders.
* CHILLI market in Guntur, Andhra Pradesh was shut on account of Navratri and will resume trade from Monday, said Satish Degala, a local trader.
Following are the prices of the most active contracts of spices at 1700 IST:
* Following are the expected support and resistance levels for contracts of spices for trade on Thursday:
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Pranav S. Joshi
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Source: Cogencis
