Spices Insights for November 22, 2016

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  • Red Chilli prices traded steady in the major spot markets across the country while Jeera and Turmeric sideways to up. Black Pepper traded mixed in the major spot markets across the country.
  • Cardamom traded negative in the major spot markets as the supply was much lower from the producing regions. Demand for Cardamom is also seen down in the spot markets as the buyers have not yet recovered from the effects of demonetization.
  • Activity in Cumin Seed remained restricted due to poor supply of the commodity followed by liquidity crunch. Market is almost closed as supply has dropped significantly in the country.
  • Participation of traders in the market is very low at the moment as they don’t have sufficient cash to source the material and today’s trade has been executed mainly by exporters.
  • Farmers mostly prefer to sell their crop in cash, whereas traders are not in positions to transact in cash due to liquidity issue.
  • Major upside moves in prices can be expected only after the market comes to normal activities with enough supply and good demand from the buyers.

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