Informist, Wednesday, Sep 29, 2021
By Kavita Desai
MUMBAI – Futures contracts of coriander and turmeric on domestic exchanges ended lower today. Chilli prices in Andhra Pradesh's Guntur market rose on a pick up in export, said market participants.
* TURMERIC futures on the National Commodity and Derivatives Exchange closed lower due to profit booking after posting gains in the last three sessions, said analysts.
* Weakness in spot prices in Telangana's Nizamabad market also supported prices. Today, the bulb variety was sold at 5,800-6,300 rupees per 100 kg, and the finger variety at 6,000-6,600 rupees, both down 100 rupees from Tuesday. The arrivals were pegged at 4,000 bags (1 bag = 65 kg), compared with 3,500 bags on the previous day, said Vikas Nagla, a local trader.
* JEERA futures gained on expectations of a rise in demand after the monsoon. Domestic consumers and exporters are seen increasing purchases in the festival season, said Mahesh Yadav, a trader in Unjha.
* In Unjha, Gujarat the commodity was sold at 14,600 rupees per 100 kg, steady from Tuesday. Around 10,000 bags (1 bag = 55 kg) were brought for auction, compared with 8,000 bags on the previous day.
* CORIANDER futures ended in the red due to the lack of strong demand from bulk buyers. Currently, demand is normal, and is expected to rise after the monsoon ends, said Satyanarayan Gupta, a trader in Kota.
* CHILLI prices in the benchmark Guntur market in Andhra Pradesh were slightly higher today on the back of more demand from overseas buyers, said Ashok Dattani, an exporter in Mumbai.
* "There are good enquiries from Bangladesh and China, but buying is not in a big quantity," said Dattani.
* Today, the Teja variety chilli in Guntur was sold at 13,000-14,500 rupees per 100 kg and the LCA-334 variety at 9,000-11,500 rupees, both up 100 rupees from Tuesday. The arrivals in Guntur were pegged at 75,000 bags (1 bag = 40 kg), compared with 80,000 bags on the previous day.
Following are the prices of the most-active contracts of spices at 1700 IST:
| Contract | Exchange | Unit (kg) | Price (rupees) | Change (rupees) |
| Coriander Oct | NCDEX | 100 | 8,068 | (-) 40 |
| Jeera Oct | NCDEX | 100 | 14,780 | 95 |
| Turmeric Oct | NCDEX | 100 | 7,332 | (-) 70 |
* Following are the expected support and resistance levels for contracts of spices for trade on Thursday:
CONTRACT | SUPPORT (rupees) | RESISTANCE (rupees) |
Coriander | 7,500 | 8,500 |
Jeera | 14,300 | 15,000 |
Turmeric | 7,000 | 7,800 |
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Rajendra Masur
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