Cardamom prices may trade on positive note today: Karvy
Karvy Commodities Broking has come out with its report on spices. According to the research firm, Cardamom prices are expected to trade on a positive note in today‘s trading session. Good export demand from the Gulf countries due to the upcoming festive season (Ramadan) might add some positive sentiments in the cardamom market.
June 25, 2013 / 14:55 IST
Karvy's report on spices
Turmeric futures are expected to trade on a positive note on the back of continued buying from the lower levels during today’s trading session. Fresh export demand is noticed at spot front, which might support future prices to move higher. According to trade sources, arrivals at the spot front are declining continuously due to the lean season, which is supportive for prices.Jeera futures prices are expected to show a negative trend in today’s trading session on account of higher arrivals from the spot front. Lack of active demand from stockists at the spot markets may also pressurize prices. Increased jeera output this year compared to last year might also drag prices lower. Reports of around 5-6 lakh bags of stocks in Gujarat might weigh on prices. However, supply concerns prevailing in Syria and Turkey might limit a sharp fall in jeera prices.Chilli July futures prices are expected to trade range-bound during today’s trading session. According to traders, export inquires from Bangladesh and Sri Lanka might support prices. According to traders, a decline in production this year might support prices in the near-term. Though domestic demand is low, chilli prices are expected to rise on the back of fresh export orders. The prevailing favorable weather is likely to boost chilli sowing in the coming season, which might limit the gains.Cardamom prices are expected to trade on a positive note in today’s trading session. Good export demand from the Gulf countries due to the upcoming festive season (Ramadan) might add some positive sentiments in the cardamom market. According to trade sources, expectations of a further rise in prices are causing farmers to bring fewer stocks of cardamom to the spot markets. This may support prices to trade on the positive side. However, favorable weather conditions along with the monsoon’s progress in the major growing regions of Kerala might restrict the sharp gains.Coriander: Dhaniya futures prices are expected to fall in today’s trading session. Overall, the fundamentals are still bearish which may pressurize prices. Huge stocks coupled with the daily arrivals might push prices even lower. However, huge volatility in prices could occur in the near-term due to expectations of a substantial fall in production for the current year.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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