Informist, Thursday, Dec 16, 2021
By Kavita Desai
MUMBAI – Futures contracts of spices ended higher today on the domestic exchanges.
* The most active January contract of JEERA ended marginally higher on the National Commodity and Derivatives Exchange due to a drop in acreage under the spice and expectations of increased local demand. Export demand is currently muted, said Mahesh Yadav, a trader in Unjha.
* Acreage of jeera in Gujarat, the top producer, was at 274,298 ha in the 2021-22 (Jul-Jun) season as of Monday, much lower than 453,704 ha a year ago, according to the state’s farm department.
* CORIANDER contracts closed higher on reports of lower acreage in the ongoing rabi season. Farmers in Gujarat and Rajasthan may opt for other rabi crops such as mustard because of higher remuneration, Kotak Securities said in a report.
* TURMERIC futures ended 3% higher tracking spot prices in Nizamabad where lower arrivals and reports of crop damage supported prices, said Rajesh Daliya, a trader in Nizamabad, Telangana.
* In the Nizamabad market, the bulb variety and the finger variety were sold at 7,400 rupees per 100 kg and 7,800 rupees, respectively, both down by 100 rupees from Wednesday. Arrivals were pegged at 500 bags (1 bag = 65 kg), compared with 1,000 bags on Wednesday.
* Prices of CHILLI in the benchmark market of Guntur in Andhra Pradesh were up because of strong buying by local stockists in anticipation of huge crop loss due to recent torrential rains, said Jugraj Bhandari, a local trader.
* The Teja variety was sold at 18,000 rupees per 100 kg and the LCA-334 variety at 17,000 rupees, both up by 400-500 rupees from Wednesday. Today, arrivals were pegged at 50,000 bags (1 bag = 40 kg), compared with 40,000 bags on Wednesday.
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 Friday:
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Ashish Shirke
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. 2021. All rights reserved.
Source: Cogencis