Spices Insights for November 28, 2016

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  • Jeera prices witnessed a positive trend, while Red Chilli traded range bound in the major spot markets across the country today.
  • The strong fundamentals have supported the price of Jeera to stay on the positive side. At the benchmark Unjha and Rajkot market fresh buying was seen in Jeera.
  • In the Guntur market Red Chilli traded range-bound as supply contained mixed variety ranging inferior to premium variety.
  • Strong demand was seen for Cardamom in the major spot markets across the country keeping the prices on the positive side.
  • Tight stocks position due to fall in supplies from producing regions and some exports enquiries fuelled the uptrend in the markets.
  • Strong internal demand, high domestic prices coupled with non-availability of an exportable surplus, have made Malabar Garbled pepper uncompetitive, leading to pepper exporters losing even their traditional overseas markets.
  • Total exports of Pepper during January-August 2016 via Kochi port stood at 8,631 tonnes against 16,167 tonnes in the same period in 2015 which is decrease of 46.61 per cent, according to statistics from the Cochin Chamber. At the national level, total exports might have touched around 9,500 tonnes.
  • According to Spices Board statistics, Kerala produced 30,000 tonnes of pepper in 2014-15 from a total area of 85,430 hectares whereas the projection for 2015-16 was at 22,000 tonnes.

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