Buy pepper, jeera at decline of 1-1.5%:Nirmal Bang

Nirmal Bang has come out with its report on Agro commodities. The research firm recommend buying pepper and jeera at decline of 1-1.5% and upside in cardamom likely to get capped. Mentha oil we expect some profit taking in today's session.

Nirmal Bang research report:

Spices complex remained in focus yesterday with Jeera, Turmeric, Cardamom and Mentha oil remained in focus and Pepper remained subdued and under pressure yesterday.

In focus:

• Pepper due to huge difference between spot and futures we have seen some correction but we feel due to drop in carry forward stocks we might not see sharp correction from here and domestic demand might pick up in coming weeks.
• Despite spot market remained closed in Unjha jeera futures continue to surprise traders as rally in Jeera continues with futures again hitting upper freeze. Reports of erratic weather conditions in Turkey and Syria was one of the important reason for jeera futures to move up as traders expect exports from our country will grow at rapid pace.

Fundamental outlook:

• We recommend buying pepper and jeera at decline of 1-1.5% and upside in cardamom likely to get capped. Mentha oil we expect some profit taking in today's session.

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To read the full report click on the attachment