Informist, Monday, May 30, 2022
By Kavita Desai
MUMBAI – Futures contracts of most spices, barring jeera, ended higher today.
* JEERA futures on the National Commodity and Derivatives Exchange ended marginally lower due to a slight increase in arrivals and sluggish demand from overseas buyers, said Siyaram Patel, a trader in Unjha.
* India’s jeera exports declined 24.5% on year to 173,796 tn during Apr-Dec, according to data from the Spices Board India.
* Exchange-quality jeera in the benchmark market of Unjha in Gujarat was sold at 21,500-21,700 rupees per 100 kg, steady from Saturday. Arrivals were pegged at 8,000 bags (1 bag = 55 kg), compared with 7,000 bags the previous day.
* CORIANDER and TURMERIC futures closed higher due to short covering by investors after a recent fall in prices, said analysts.
* Today, the benchmark Nizamabad market for turmeric in Telangana and the coriander market in Ramganj, Rajasthan, were shut on account of Amavasya. The markets will resume trade on Tuesday.
* Prices of CHILLI in Guntur, Andhra Pradesh, were unavailable as the market is shut till Jun 12 due to peak summer. The chilli market in Guntur remains shut for about a month every summer, as high temperatures make it difficult to handle the pungent spice.
Following are the prices of the most-active contracts of spices as of 1700 IST:
* Following are the expected support and resistance levels for contracts of spices for trade on Tuesday:
End
Edited by Sushmita Mukherjee
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Source: Cogencis
