Informist, Friday, Apr 1, 2022
By Puja Das
NEW DELHI – Futures contracts of all spices on domestic exchanges rose today. Prices of chilli remained steady in Guntur, Andhra Pradesh, market participants said.
* Futures contracts of CORIANDER on the National Commodity and Derivatives Exchange neared a seven-year high today due to firm export demand, even though supply remained normal, said Ritesh Sahu, senior research analyst at SMC Global Securities.
* Prices at spot markets weren’t available today, as the market is shut on account of the end of the financial year, said Giriraj Gupta, a trader based in Ramganj, Rajasthan. The market will resume trade on Monday, he said.
* TURMERIC futures hit a four-week high of 9,280 rupees per 100 kg due to a sudden improvement in demand from market participants. Markets in Telangana’s Nizamabad and Tamil Nadu’s Erode were shut today due to the financial year-end closing, and a local festival. Both markets will resume trade from Apr 4.
* Futures contracts of JEERA gained due to lower output estimates of the spice in Gujarat, the largest producer. The market in Unjha, Gujarat, was shut as the financial year came to an end. The market will resume trade on Monday, traders said.
* Prices of CHILLI remained steady in Guntur. The Teja variety was quoted at 17,000 rupees per 100 kg and the LCA-334 variety at 18,000 rupees. Arrivals declined to 55,000 bags (1 bag = 40 kg) from 70,000 bags on Wednesday, said Ashok Dattani, a local trader, adding that the quality of the spice was poor today.
Following are the prices of the most-active contracts of spices as of 1630 IST:
* Following are the expected support and resistance levels for contracts of spices for trade on Monday:
End
Edited by Avishek Dutta
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