Informist, Monday, Dec 13, 2021
By Kavita Desai
MUMBAI – Futures contracts of spices, barring coriander, ended lower on domestic exchanges today. Chilli prices in Guntur remained steady, said market participants.
* JEERA futures on the National Commodity and Derivatives Exchange closed lower on lack of cues as the benchmark Unjha market was shut due to the death of Bharatiya Janata Party legislator Ashaben Patel. The market will resume trade on Tuesday, said Pawan Agarwal, a trader.
* However, lower acreage in the ongoing rabi season limited the downside. Acreage of jeera in Gujarat, the top producer, was at 237,866 ha in the 2021-22 (Jul-Jun) season as of Dec 6, lower than 381,055 ha a year ago, according to the state's farm department.
* CORIANDER contracts closed higher following reports of a drop in acreage in the ongoing rabi season. However, spot prices in Ramganj remained steady today, said Giriraj Gupta, a Ramganj-based trader.
* The badami variety was sold at 9,000 rupees per 100 kg and the eagle variety at 9,500 rupees. Arrivals in Ramganj, a key trading centre in Rajasthan, were pegged at 2,300 bags (1 bag = 45 kg), compared with 3,000 bags the previous day.
* TURMERIC futures ended lower due to profit booking. However, strong domestic and export demand and report of crop damage limited the downside.
* Prices of CHILLI in the benchmark market in Guntur, Andhra Pradesh, remained steady today, said Jugraj Bhandari, a local trader.
* The Teja variety was sold at 16,500 rupees per 100 kg, and the LCA-334 variety at 15,000 rupees. Today, arrivals were pegged at 75,000 bags (1 bag = 40 kg), compared with 50,000 bags on Friday.
* Prices of chilli are expected to trade higher on reports of crop loss due to recent rains, said traders.
Following are the prices of the most active contracts of spices at 1700 IST:
| Contract | Exchange | Unit (kg) | Price (rupees) | Change (rupees) |
| Coriander Jan | NCDEX | 100 | 8,680 | 38 |
| Jeera Jan | NCDEX | 100 | 16,035 | (-) 70 |
| Turmeric Apr | NCDEX | 100 | 8,800 | (-) 42 |
* Following are the expected support and resistance levels for contracts of spices for trade on Tuesday:
CONTRACT | SUPPORT (rupees) | RESISTANCE (rupees) |
Coriander | 8,300 | 9,300 |
Jeera | 15,800 | 16,700 |
Turmeric | 8,300 | 9,200 |
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Pranav S. Joshi
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