Informist, Tuesday, Jan 11, 2022
By Kavita Desai
MUMBAI – Futures contracts of all spices, barring coriander, on the domestic exchanges ended higher today.
* CORIANDER futures on the National Commodity and Derivatives Exchange ended lower due to profit booking and cues from the market in Ramganj, where higher arrivals weighed on prices, said Giriraj Gupta, a trader in Ramganj.
* The most active April contract had hit a high of 10,400 rupees on Monday, the highest level since December 2015.
* In Ramganj, a key trading centre, the badami variety was sold at 9,700 rupees per 100 kg and the eagle variety at 10,400 rupees, both down 100 rupees from Monday. Arrivals were pegged at 4,000 bags (1 bag = 45 kg), compared with 2,500 bags on Monday, said Gupta.
* JEERA futures erased early losses and ended in the green due to strong demand from local stockists amid concerns over lower production in the ongoing 2021-22 (Jul-Jun) season, said traders.
* In Unjha, the benchmark market in Gujarat, exchange-quality jeera was sold at 17,500-17,600 rupees per 100 kg, unchanged from Monday. Arrivals were pegged at 17,000 bags (1 bag = 55 kg) today, against 12,000 bags the previous day.
* TURMERIC contracts on the domestic bourse ended higher following reports of lower production estimates due to adverse weather conditions amid heavy rains in most producing regions in south India in November.
* Arrivals of the new crop have started at Telangana's Nizamabad market, and are at around 150 bags (1 bag = 65 kg) daily. Arrivals of the new crop will surge post Makar Sankranti, when the daily supply count is expected to go up to 2,000 bags, said Amrutlal Kataria, a local trader.
* Demand for the new crop is poor at the moment owing to its inferior quality, but it is expected to pick up in mid-February once the quality improves.
Following are the prices of the most-active contracts of spices as of 1700 IST:
| Contract | Exchange | Unit (kg) | Price (rupees) | Change (rupees) |
| Coriander Apr | NCDEX | 100 | 10,236 | (-) 50 |
| Jeera Mar | NCDEX | 100 | 18,180 | 135 |
| Turmeric Apr | NCDEX | 100 | 10,570 | 64 |
* Following are the expected support and resistance levels for contracts of spices for trade on Wednesday:
CONTRACT | SUPPORT (rupees) | RESISTANCE (rupees) |
Coriander | 9,600 | 10,600 |
Jeera | 17,600 | 18,500 |
Turmeric | 9,900 | 10,800 |
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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