Spices Insights for November 15, 2016

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  • The current liquidity crunch following the demonetization has pulled down the Cardamom prices which has hit a historical high of over Rs.1,300 a kg early last week.
  • The second round of Cardamom picking is under way and that might last for few more days. The second round is expected to start from December first week and may last till end of the month.
  • Total Cardamom arrivals during the season from August 01 up to November 12, 2016 were at 7,780 tonnes and sales were at 7,325 tonnes.
  • Turmeric and Jeera prices also showed a negative trend on expectations of increasing production in coming harvesting season and lowering export demand in recent months.
  • Currently Turmeric supplies are for medium and poor quality during the rest of the season till new crop arrived.
  • Jeera sowing in Gujarat and Rajasthan have picked up and anticipation of good harvest next season encouraging the stockists to sell their old crop in the physical market.
  • Jeera export demand going through a sluggish phase following reduced buying by China. Indian Jeera is priced $200 lower than the stock in Syria and Turkey at $2500 per tonne but there are no takers with China going slow on purchase.

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