172@29@17@103!~!172@29@0@53!~!|news|business|stocks|-1949339.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false
Moneycontrol
Subscribe to PRO at just Rs.33 per month. Use code SUPERPRO
Last Updated : May 04, 2012 10:45 AM IST | Source: Moneycontrol.com

Mangal Keshav`s view on Chilli, Jeera, Pepper, Turmeric

Mangal Keshav has come out with its report on Chilli, Jeera, Pepper, Cardamom, Soyabean, Edible oils, Guar seed, mustard seed, Mentha oil.


Mangal Keshav has come out with its report on Chilli, Jeera, Pepper, Cardamom, Soyabean, Edible oils, Guar seed, mustard seed, Mentha oil.


Arrivals of chilli crop increased to more than 50,000 bags while demand too was up from local & export buyers at Guntur market. Spot rates closed higher and were in the range of Rs 50-Rs 55 per kg, based on crop quality.


Arrivals of jeera increased to around 25,000 bags and the same were traded at auctions held at Unjha market. Spot rates trades firmly & were quoted in the range of at Rs 124-Rs 126 per kg, as per local traders.


Spot rates of pepper garbled increased to Rs 388 per kg and that of un-garbled was up at Rs 373 per kg. Arrivals increased to 10 tons while trades too were up at 9 tons Kochi market - IPSTA.


Turmeric arrivals declined to about 10,000 bags at Nizamabad, 12,000-12,500 bags at Erode and ~4,000 bags at Sangli market. Spot rates were up by Rs 70-Rs 80 per quintal, supported by increase in demand from stockiest, as per local traders.


Average price of small cardamom increased to Rs 756.9 per kg, while the maximum price offered was down at Rs 1,085 per kg, as per spice board.


Total inflow of small cardamom crop increased to about 35.3 tons from which ~34.5 tons were sold at auction held at Nedumkandam.


Oil-seeds & edible-oil futures declined, on profitbooking & following cues from overseas market.


Spot rates of soya bean offered by planters stood steady at Rs 36.4-Rs 36.7 per kg while rates offered at mandis of Indore were unchanged around Rs 35.5 per kg, as per traders.


Guar seed arrivals increased to 3,355 quintals, while the average of the closing spot rates were up at Rs 28,830.3 per quintal.


Inflow of mustard seed crop increased to 81,405 quintals, while average of closing spot rates were up at Rs 3,530.7 per quintal, as per agriculture marketing board of Rajasthan.


Total arrivals of mustard seed crop declined to about 1.8-1.9lakh bags while spot rates traded firmly & in the range of Rs 38.5-Rs 40.5 per kg across different locations, as per market reports.


Chana futures rallied more than 3%, for second consecutive session & rising above 4,000 per quintal mark, after reports that government may hike MSP, 2012-13 Kharif season starting June. Total arrivals of chana crop stood steady ~2lakh bags while spot rates traded firmly and were quoted in the range of Rs 38-Rs 40 per kg.


Mentha oil futures again closed at lower circuit, down 8% in the current week itself & below Feb'12 lows while spot rates dropped below Rs 1,700 per kg mark, due to poor demand ahead of new crop arrivals, which are expected by month-end.


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.

To read the full report click on the attachment

First Published on May 4, 2012 10:43 am
Sections