MUMBAI (Commoditiescontrol) - Spot prices of Pepper, Jeera and Turmeric were recorded lower while prices of Coriander and Red Chilli surged by 3.28 & 15%, respectively.
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Commodity
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Market
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Last Close
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1 Week
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1 Month
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3 Month
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6 Month
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1 Year
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Black Pepper
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Kochi
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425
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-1%
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-10.34%
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-4.92%
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-13.97%
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-37.13%
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Coriander
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Kota
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5572
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3.28%
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-0.64%
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18.83%
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9.69%
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-23.60%
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Jeera
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Unjha
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19967
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-3.23%
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-4.92%
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5.41%
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2.57%
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7.04%
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Turmeric
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Nizamabad
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7550
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-1.31%
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-3.45%
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0.67%
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4.37%
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2.07%
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Red Chilli
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Guntur
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10800
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14.89%
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17%
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21.35%
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30.12%
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-3%
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Black Pepper:
Spot Pepper prices eased by 1% at Rs.42500/100kg at benchmark due to limited business activities witnessed last week followed by ample availability of imported pepper in the market place.
Business activities were limited last week as sellers are not ready to liquidate their stock at the prevailing prices.
Pepper growers in the growing regions of Kerala were not ready to part with their produce at the current prices and hence there were reportedly no arrivals on Tuesday in the primary markets, said market sources.
They said despite fixing of the MIP by the Union Government, imports are taking place unabated and the material is being sold below Rs.400 a kg. As a result, the spot prices fell further on Monday.
The traders alleged that the importers have shifted their operations to Chennai and Tuticorin ports in Tamil Nadu. Besides, quality of the material released recently was deteriorated because of prolonged storage, they claimed.
As against the MIP of $7,850 a tonne CIF Indian port Vietnam pepper is allegedly being contracted at $3,200 a tonne. The import duty for Vietnam pepper is 52 per cent.
Furhter, only 12 tonnes Indian Pepper were traded this week as compared with 1,19 tonnes last week.
According to the Spices Board data, the import of the black pepper in 2016-17 (Apr-Mar) was higher than the export from the country. The import totalled 20,265 tonnes as against the export of 17,500 tonnes.
The data for the past five years show that except for 2015-16, export and import of the commodity remained mostly at the same levels.
CORIANDER:
Spot Coriander prices surged by 3.28% at Rs.5,572/100kg during the week ended on Friday at Kota market of Rajasthan.
Prices of Coriander moved up this week due to good buying support from local and upcountry buyers due to long weekend this week so buyers were actively procuring to meet their short term commitments, said market sources.
Further, new crop arrivals has started to enter the market but in small quantities and the moisture content in the stock was recorded higher.
Old stock prices are expected to get pressurized once the arrivals of new crop increases with perfect specifications.
Prices of the Coriander declined in 2016-17 and are still down by 23.60% as compared with last year prices during same period due to glut production and higher carryover stock from last season.
Although, Coriander sowing this season in MP, Rajasthan and Gujarat recorded lower at 2,59,228 ha against 4,25,166 ha in last year.
As per market sources, production of Coriander this year is estimated at 70-80 lakh bags (40kg each) due to lower production though the yield is expected to remain same as last year.
The exact figures cannot be stated at the moment and the production figures can be stated once harvesting starts.
Coriander export during Apr-Oct 2017 is recorded at 14, 432 metric tonees versus 12, 432 metric tonnes during same period in 2016, as per Commerce Ministry data.
Coriander prices are expected to trade in current price range but the prices are expected to rise once the old stock gets liquidate as the supplies are expected to get tight in the coming year.
On Futures, Coriander contract expiry in April rose by Rs.168 at Rs.5,872/100kg on the National Commodity and Derivative Exchange Limited.
Open interest of the same contract was recorded lower at 22,880 lots against 24,110 lots on last Friday.
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JEERA:
Spot Jeera prices at the benchmark Unjha market tumbled by 3.23% at Rs.19,967/100kg during the week ended on Friday.
Prices of the Jeera declined this week due to higher production prospects followed by entry of new crop arrivals in small quantities.
Further, sowing of Jeera recorded higher this year as the farmers have switched from different commodities for better returns.
All the major growing districts in Gujarat have recorded higher coverage: Patan (from 40,700 to 68,100 hectares), Banaskantha (from 64,900 to 67,800 hectares) and Ahmedabad (from 12,400 to 19,800 hectares) in north/central Gujarat; Porbandar (from 12,100 to 23,200 hectares), Rajkot (from 4,900 to 22,000 hectares) and Devbhumi Dwarka (from 4,800 to 20,400 hectares) in Saurashtra; and Kutch (from 23,200 to 29,600 hectares).
Jeera prices this year touch a lifetime record high in December as the domestic and international buyers actively procured the commodity on prospects of dwindling stock.
Jeera export during Apr-Oct 2017 was recorded higher at 85, 614 metric tonnes against 77, 360 metric tonnes during same period in 2016.
Jeera export recorded higher last year due to lower production in rival countries of Turkey, Syria, said market sources.
Export this year is expected to increase due to growing demand for Indian Jeera in international market.
Further, production of Jeera will increase this year due to higher sowing reports and favorable climatic conditions in producing belts.
Prices of Jeera will remain under pressure in coming weeks due to selling pressure and new crop arrivals.
Although prices can rebound in long run despite of higher production as the supplies are expected to get tight due to lower carryover stock this year.
Jeera futures contract expiry in March declined by Rs.85 at Rs.16, 475/100kg on the National Commodity and Derivative Exchange Limited.
Open interest of same contract was recorded higher at 10,038 lots against 9,684 lots on last Friday.
RED CHILLI:
Red Chilli Teja prices gained most at Rs.108/kg under spices complex during the week ended on Friday.
Prices of Teja variety at benchmark Guntur market rose due to good buying support from overseas buyers as the new crop has started to enter the market in small quantities.
Prices of other varieties too rose due to good buying support from local and upcountry buyers as the premium deluxe variety stock is said to be limited this year because of virus attack so the buyers want to procure for their long and short term requirements.
Stockiest are active in the market as they feel the prices will rise this year once the supplies pressure goes away due to lower production this year.
As per market sources second advance estimates, Red Chilli production from producing belts of Andhra Pradesh in 2017-18 is pegged around 5.35 lakh metric tonnes against 10.13 lakh metric in last year.
Further, as per market estimates, approximately 35 to 40 lakh bags (40kg each) stock will be carried over this year.
Red Chilli production output is estimated around 3.5 to 3.75 crore bags versus 4.25 to 4.5 crore bags as the farmers lost their interest in commodity due to lower prices this year, as per Mumbai based trader.
Out of which premium deluxe variety is recorded lower and in coming year premium quality stock will be less as the virus attack affects the variety.
TURMERIC:
Spot Turmeric prices eased by 1.31% at benchmark Nizamabad market during the week ended on Friday.
Prices of Turmeric edged lower this week due to sluggish domestic and export demand followed by pressure by new crop arrival at the market place.
Further, Turmeric prices will remain under pressure in the near term due to higher arrivals in the terminal markets and lower exports, traders said.
However, the fundamentals support a firm market on the basis of reports that the production in Tamil Nadu, Andhra Pradesh and Telengana would be lower than last season.
Crop in the producing belts of Andhra Pradesh, Telangana, Nanded and Basmatnagar area is reported to get affected by virus/pest attack which will affect the outcome by 15-20%.
As per market sources, harvesting will soon and the new crop will start to enter the market from February and extend till March.
Increased global demand for turmeric, especially in the pharmaceutical sector, drove its exports to 1,16,500 tonne in volume and Rs 1,241 crore in value terms in 2016-17. There are expectations of improved demand in coming weeks from the export market.
As per a trader from Nizamabad, current stock of Turmeric in India is pegged around 22 lakh bags (70kg each).
(By Commoditiescontrol Bureau; +91-22-40015522)
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