Moneycontrol PRO
Open App
Live: Live: Bajaj Finance's Stock Losing Colour During Festivities?

Agri Picks Report: Geojit

According to Geojit , Mixed moves were witnessed in NCDEX spices complex on Tuesday. Jeera October futures plunged to six week lows before trimming losses to end the session flat.

September 21, 2022 / 09:06 AM IST

Geojit's report on Agri Picks


Mixed moves were witnessed in NCDEX spices complex on Tuesday. Jeera October futures plunged to six week lows before trimming losses to end the session flat. Fall in production coupled with expectation of rise in festival demand lend support. Turmeric futures too inched up on festival demand prospects though gains were limited on expectation of good crop this season. In the meantime, coriander futures declined. As per Andhra Pradesh agricultural department, as on 07th September 2022 Turmeric sowing activity completed around 14,540 hectares as compared to last year same period 14,185 hectares, up by 2.50% till date. Production of spices in India is likely to have declined 1.5% on year to 10.9 mln tn in 2021-22 (Jul-Jun), according to data from Spices Board India. The country had produced 11.0 mln tn of spices in the previous year. Among the complex, a major rise in production was pegged in turmeric. The board has pegged turmeric production at 1.33 mln tn, up 18.4% on year. Jeera production was seen at 725,651 tn, down 8.8% on year due to lower acreage in Rajasthan and Gujarat, the key producer. Production of chilli, counted as one of the largest exported and produced spices in the country, is projected at 1.9 mln tn, compared with 2.0 mln tn a year ago. Production of pepper is seen at 60,000 tn, down 7.7% on year, while the output of small cardamom is seen rising by 3.6% on year to 23,340 tn, data showed. 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. 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.

21092022 - com

Close
first published: Sep 21, 2022 09:06 am
Sections
ISO 27001 - BSI Assurance Mark