Spices Insights for November 17, 2016

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  • Trade activities in Spices complex has come to standstill since November 9 due to cash crunch which is helping prices to rise to a some extent.
  • Traders in the spot market are sidelined as sellers are reluctant to sell their produce due to uncertainty about payment.
  • India Jeera exports as on August of the current financial year (2016-17) that begins from April surged 63.41% at 61,374.80 metric tonnes due to empty pipeline in overseas market on poor imports in FY 2015-16. India’s Jeera export during 2015-16 was 94,352.47 metric tonnes, down from 156,555.99 metric tonnes in 2014-15.
  • India could export around 1 lakh tonne Jeera season 2016-17 as Geo-political tension in Turkey and Syria may restrict supply, thereby making India the single most preferred source of cumin seed supply in the world market.
  • Black Pepper prices have been trading steady to lower at the major benchmark markets of India amid subdued demand.
  • Availability of imported material in the domestic markets coupled with reports of sharp fall in Vietnam prices claimed to have influenced the markets in India.
  • Cardamom auction canceled today as buyers found it difficult to raise cash for buying.

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