Geojit's report on Agri Picks
Spices resumed declining on Thursday on NCDEX. Turmeric futures declined the most, falling more than two per cent, on rise in arrivals and subdued demand. Jeera futures too came under arrival pressure, while Coriander futures were down on tepid demand in the spot market. The export of spices from India during Apr-Dec declined 7.5% on year to 1.2 mln tn, according to data from the Spices Board India. In terms of value, exports rose marginally to 230.7 bln rupees. Sluggish demand for chilli, jeera, turmeric, coriander and fenugreek weighed on exports. The exports of jeera during Apr-Dec declined 24.5% on year to 173,796 tn, from 230,120 tn a year ago. India exported 116,408 tn of turmeric in Apr-Dec, down 20.6% on year. Coriander exports were down 12.8% on year at 37,566 tn, data showed. Exports of small cardamom rose 68.3% on year to 7,337 tn. The huge rise was also seen in ginger exports, which rose 57.5% on year at 130,091 tn. Exports of chilli in Apr-Dec were down 7.6% on year at 435,725 tn, while mint product exports were at 21,386 tn, up 4.8% on year, according to the data. According to the second advance estimates by Gujarat state agriculture department, jeera production is seen declining to 236980 tons in 2021-22, down 41 per cent year on year. Area is seen at 289000 ha as against 473800 ha a year ago. Coriander production is seen declining as well to 211680 tons compared to 221240 tons in 2020-21. Government sees 2020-21 coriander output at 720000 tons compared to 701000 tons a year ago. Government sees 2020-21 turmeric output at 1.11 million tonnes compared to 1.15 million tons a year ago. Output of small cardamom is seen rising by 100% on year to 22520 tons according to the Spices Board.
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