Geojit's report on Agri Picks
Mixed trend was seen in NCDEX spices complex on Friday. Coriander and jeera futures inched up, while turmeric futures declined. Fall in production lend support to jeera prices to move up, while steady local and overseas demand supported coriander futures. Turmeric came under pressure from tepid demand amidst progress in sowing. According to fourth advanced estimates by Gujarat government, jeera production is seen fall by 44.5 per cent to 221500 tonnes in 2021-22 on yoy basis, while that of coriander is seen at 208090 tonnes, down by 5.9 per cent during the same time period. The National Commodity & Derivatives Exchange has received approval from the Securities and Exchange Board of India to launch options in goods contracts on turmeric, jeera and coriander, it said in a circular. The options in goods contract on the three commodities expiring in Aug-Nov will be available for trading from 15 July. The transaction charge will be 30 rupees per 100,000 rupees of premium value. As per the contract specifications, the trading and delivery unit for turmeric and coriander is 5 tn each, while for jeera it is 3 tn. The options contract will be launched a day after the futures contract with the same underlying is launched. Upon the expiry of the contract, the outstanding open position shall result in compulsory delivery. The final settlement price and the expiry date are the same as the corresponding futures contract. Govt. sees spices output in 2021-22 at 10.9 million tonnes vs 10.8 million tonnes. The export of spices from India during 2021-22 declined nearly 13 per cent on year to 1,531,154 ton, according to data from the Spices Board India. In terms of value, exports dipped by about 1.25 per cent to 3,057,644.24 rupees. Export of chilli, turmeric, jeera, coriander, fenugreek declined, while that of pepper, cardamom, ginger and fennel rose. India exported 153,154 ton of turmeric in in FY 2021-22, down 16.70% on year. Coriander exports were down 15.16% on year at 48,658-ton, data showed. The exports of jeera during declined 27.28% on year to 216,996 ton. Export of small cardamom jumped by 63 per cent to 10,572 ton year on, while that of pepper rose 9.5 per cent.
For all commodities report, click here
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.