keresspices

International Spice Commodities Update – Peppercorn

spiceresearch — Thu, 23 Feb 2012 21:51:47 +0000

Supported by a firming trend at spot market on rising demand, pepper prices extended gains for the second straight day by adding Rs 235 ($4.78, €3.59, £3.04) to Rs 32,700 ($665.30, €500.23, £423.24) per quintal in futures trade today.

Trading sentiment further strengthened on estimates of lower output this season.

At the National Commodity and Derivatives Exchange, the April contract for pepper rose by Rs 235 ($4.78, €3.59, £3.04) , or 0.72%, to Rs 32,700 ($665.30, €500.23, £423.24) per quintal, with an open interest of 1,387 lots.

The March contract moved up by Rs 155 ($3.15, €2.37, £2.01) , or 0.48%, to Rs 32,245 ($656.05, €493.27, £417.35) per quintal, with an open interest of 5,036 lots.

Analysts said rising demand in the spot market and reports of lower output estimates led to the rise in pepper prices at futures trade.

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International Spice Commodities Update – Mustard Seed

spiceresearch — Thu, 23 Feb 2012 02:22:59 +0000

Mustard seed futures prices shot up by Rs 109 ($2.22, €1.68, £1.42) to Rs 3,700 ($75.30, €56.91, £48.05) per quintal today tracking a firm spot markets sentiment. Marketmen said stockist and retailers remained active buyers in the spot markets, advising speculators to increase their positions in futures.

They said reports of lower production estimate this season as compared to last year, further fuelled the trading sentiment in mustard seed futures. Better off-take by oil mills and vanaspati ghee (hydrogenated butter) making industries also supported the prices, they said.

At the National Commodity and Derivatives Exchange, the July contract for mustardseed rose by Rs 109 ($2.22, €1.68, £1.42), or 3.04%, to Rs 3,700 ($75.30, €56.91, £48.05) per quintal, clocking an open interest 6,270 lots. The April contract gained Rs 77 ($1.57, €1.18, £1.00), or 2.21%, to Rs 3,568 ($72.61, €54.88, £46.33) per quintal, having an open interest of 2,12,780 lots.

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International Spice Commodities Update – Cardamom

spiceresearch — Thu, 16 Feb 2012 14:05:53 +0000

Higher cardamom production estimates are likely to begin weighing on the price trend. According to market source, cardamom output is likely to rise by 20 percent from previous year to around 12750 tonnes. Cardamom arrivals in the major auction centres stood at around 70 tonnes and the entire quantity was sold out.

The average price was quoted at around Rs.981.22 ($19.87, €15.18, £12.67) per kg. Conversely, the demand is expected to improve as the daily arrivals may decline gradually and with the harvest season ending by March. Latest data from the Spices Board showed that in April-December 2011-12, the exports of small and large cardamom surged 218.9 percent on year to 4050 tonnes.

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International Spice Commodities Update – Turmeric

spiceresearch — Thu, 16 Feb 2012 12:07:48 +0000

All Turmeric contracts ended up at around 4 percent due to strong demand in spot markets. Despite high production estimates, prices rose due to bulk buying by stockists in local markets especially from Delhi, Bihar, and Kolkata. A likely increase in export demand also provided mild support to domestic prices.

However, in the long term, turmeric prices may fall on high output estimates as high prices last year led farmers to bring more area under turmeric. According to sources, stocks of turmeric are seen at 1.2 million bags compared with two hundred thousand bags a year ago. Arrivals of fresh crop have started in small quantities and may gain pace during March-April.

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International Spice Commodities Update – Cumin

spiceresearch — Thu, 16 Feb 2012 04:03:52 +0000

Cumin contracts gained on short covering and reports of improvement in export demand. The spot price was quoted at Rs.14600 ($295.70, €225.86, £188.54) per quintal. However, arrivals in Unjha were around 3800 bags, higher from previous day. Out of the total arrivals, 800 bags were from fresh crop. Prices are likely to decline as new crop arrivals have started in the local market and output is expected to be higher this season. Cumin production in the year 2012-13 is seen at two hundred twenty five thousand tonnes compared with one hundred seventy six thousand tonnes last year.

On the other hand demand from overseas markets is expected to rise further due to fall in prices. In April-December 2011, India exported 31500 tonnes of Cumin, up 45 percent from a year ago.

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International Spice Commodities Update – Peppercorn

spiceresearch — Thu, 16 Feb 2012 03:04:36 +0000

Pepper futures advanced following the trend in spot market. The spot price rose by Rs.300 ($6.08, €4.64, £3.87) per 100kg from previous day. Reports on higher export demand also supported the prices. As per market source, Indian parity was offered at around Rs. 318,470 ($6450, €4927, £4113) per tonne for Europe and Rs333,282 ($6750, €5156, £4304) per tonne for US. According to trade sources, pepper production in Vietnam is likely to increase to around one hundred twenty thousand tonnes in 2012 due to the rise in acreage and better yield.

Pepper production in Kerala may decline compared with last year due to unfavorable weather conditions and lower yield from old plants. Karnataka is likely to take over the top position due to expansion in acreage and high yield from newer plantations.

International Spice Commodities Update – Chilli

spiceresearch — Thu, 16 Feb 2012 01:58:00 +0000

Most chilli contracts except February contracts traded up on short covering after prices slumped in the last week due to the onset of fresh crop arrivals in the spot market. However, the overall fundamentals still remain weak due to diminished domestic and export demand.

According to sources, chilli output in the current crop year is likely to rise by 15-20 percent to around 1.1 million tonnes. Carryover stocks of chilli in the year 2012 are seen at around 10,000 tonnes, down from 30,000 tonnes a year ago. India’s chilli exports fell 20 percent to 153,500 tonnes in April-December 2011, as per latest data released by Spices Board.

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International Spice Commodities Update – Coriander

spiceresearch — Thu, 16 Feb 2012 00:41:28 +0000

Coriander futures traded mixed on sluggish demand amid high supplies of new crop in the spot markets. Meanwhile, the spot prices stood steady as most buyers are waiting for arrivals of good quality crop that are likely to gain momentum by March. Total coriander arrivals in Rajasthan were around 7000 bags.

The prices traded higher during the last few days on concerns that unfavorable weather in Rajasthan may have damaged the coriander crop. However, there are reports that damage to coriander crop in Rajasthan is unlikely to hurt the country’s total output much as overall acreage has increased and yield is seen high.

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International Spice Commodities Update – Chilli

spiceresearch — Wed, 15 Feb 2012 00:00:44 +0000

Chilli futures traded down amid reports of sluggish demand and higher crop estimations. Weak price trends in the spot market also weighed on chilli prices. As of Wednesday chilli arrivals in Guntur were around 35000 bags against 40000 bags on previous day. The arrivals include around 5000 bags of the 334-variety.

The spot price for 334-varitey chilli was quoted at Rs.5200 ($105.25, €79.92, £66.95) per 100kg. The prices are likely to move down when fresh arrivals gain pace in February-April, until then the prices are expected to trade steady. Likely rise in export demand in the coming months may also add support to the prices to trade higher.

International Spice Commodities Update – Cardamom

spiceresearch — Tue, 14 Feb 2012 23:10:07 +0000

Cardamom contracts ended higher for the fourth consecutive trading session on strong export demand. Meanwhile, the spot price showed a marginal fall compared to previous days. Major export firms were the active buyers in the auction center in Kerala. However, as per the latest updates from the leading cardamom planter in Kerala the cardamom production is expected to be at an all-time high this year due to better price received last year. Arrivals at the Wednesday’s auction stood at around 85 tonnes.

The maximum price was at Rs.914.50 ($18.51, €14.06, £11.77) per kg compared to Rs.1004 ($20.32, €15.43, £12.93) last day and the minimum was at Rs.433 ($8.76, €6.66, £5.57) per kg. Auction average price declined to Rs.643.51 ($13.03, €9.89, £8.29) per kg.