Spices Insights for July 28, 2016

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  • Red Chilli prices continued to trade flat at the benchmark Guntur market of Andhra Pradesh today amid slack demand.
  • Red Chilli supply at the Guntur market declined to 50000 bags today as against 60000 bags yesterday.
  • Red Chilli sowing in Andhra Pradesh as on July 27, reached at 20,000 hectares, up from 8,000 hectares sown same period a year ago. Chilli acreage in Telangana stood at 2,000 hectares versus 1,000 hectares last year.
  • Jeera prices declined second straight day by Rs.70/20 kg in Unjha and Rs 50 in Rajkot markets of Gujarat in the absence of any encouraging cues from buying side and bearish futures.
  • Jeera demand is very poor since previous session due to reduced off-take at the higher level.
  • For further upsurge in Jeera prices, fresh exports demand is required and it is expected in the days to come.
  • Jeera arrival at the market place was 5,000-6,000 bags (55 kg each) against 6,000-7,000 bags previous session.
  • Jeera prices rose more than 50% so far this year and now some decent correction cannot be ruled out, however, any major fall in prices will attract good demand from hereon.
  • Turmeric prices witnessed steady tone in major market of India on subdued demand.
  • Turmeric arrivals at Nizamabad, Duggirala and Erode markets were reported at 1200 bags, 100 bags and 5800 bags respectively.
  • Turmeric sowing in Telangana as on July 27 stood at 41,000 hectares from 36,000 hectares’ same period a year ago, while sowing in Andhra Pradesh reached at 8,000 hectares as against 6,000 hectares.
  • Good sowing progress may correct Turmeric prices for the near term.
  • Pepper prices have been trading steady to negative as no activities are taking place inside the terminal market due to ongoing strike at the trading markets.
  • Black Pepper prices likely to touch an all-time high by the end of October this year due to lower production estimation.
  • Considering the overall production and market information at the prevailing demand supply situation, Black Pepper prices may reach to Rs.720-760 a kg in October as against Rs.700 prevailing currently.
  • Black Pepper output expected to decline to about 50000 tonnes due to erratic weather conditions in Kerala and Karnataka.

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