Spices Insights for November 24, 2016

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  • Jeera and Red Chilli traded steady in the major spot markets across the country today.
  • The steady tone was seen for Jeera at the benchmark Unjha and Rajkot market of Gujarat despite of good domestic and export demand followed by firm tone on futures.
  • Arrivals and demand is still continuing to be low in the major spices spot markets in the country.
  • It is expected to take few weeks for the market to recover from the liquidity crisis and come back to normal activities.
  • India Spices export value advanced by 12% to Rs. 166.3 billion during 2015-16, as compared to Rs. 148.47 billion in 2014-15, ministry informed.
  • However, India’s total export earning reached Rs. 17163.78 billion during 2015-16, which is Spices export value is contributing nearly one percent.
  • Presently, there is no proposal for constituting additional Boards for the promotion of Spices. However, the Government has notified eleven Spice Development Agencies for addressing issues related to production, quality, domestic marketing and export of Spices in major spice growing States/Regions of the country.

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