Informist, Friday, Dec 10, 2021
By Kavita Desai
MUMBAI – Futures contracts of spices, barring turmeric, ended lower on domestic exchanges today. Chilli prices in Guntur remained steady, said market participants.
* The most active January CORIANDER contract on the National Commodity and Derivatives Exchange closed tad down tracking spot market, where higher arrivals and lack of strong demand from bulk buyers weighed on prices, said Giriraj Gupta, a Ramganj-based trader.
* The badami variety was sold at 9,000 rupees per 100 kg and the eagle variety at 9,500 rupees, both down 150 rupees from Thursday. Arrivals in Ramganj, a key trading centre in Rajasthan, were pegged at 4,000 bags (1 bag = 45 kg), compared with 3,000 bags on previous day.
* TURMERIC futures ended higher due to fall in arrivals and report of crop damage. In Telangana’s Nizamabad market arrivals were pegged at 1,000 bags (1 bag = 65 kg), compared with 1,500 bags on Thursday, said Vikas Gupta, a trader in Nizamabad.
* JEERA futures ended lower due to profit booking and lack of strong demand in the spot market. However, lower acreage in the ongoing rabi season limited the downside.
* Acreage of jeera in Gujarat, the top producer, was at 237,866 ha in the 2021-22 (Jul-Jun) season as of Monday, lower than 381,055 ha a year ago, according to the state’s farm department.
* Prices of CHILLI in the benchmark market in Guntur, Andhra Pradesh, remained steady today. The Teja variety was sold at 16,500 rupees per 100 kg, while the LCA-334 variety was at 14,500 rupees. Today, arrivals were pegged at 50,000 bags (1 bag = 40 kg), of compared with 70,000 bags on Thursday.
* Recent heavy rainfall in Andhra Pradesh led to pests and diseases and affected around 48,426 ha under chilli, according to data from the state farm department. West Godavari, Krishna, Prakasam, Kurnool and Guntur are the major districts affected, the data showed.
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 Monday:
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Maheswaran Parameswaran
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