Agri Picks Report July 05, 2023: Geojit

Geojit's report on Agri Picks

Barring jeera other spices were down on NCDEX on Tuesday. Jeera futures inched up on firm demand, while turmeric and coriander futures edged lower on profit booking. India's export of spices in the year ended March declined 8.3% on year to 1.4 mln tn, according to data from the Spices Board India. However, in value terms, exports rose 4.7% to 317.6 bln rupees in 2022-23. While exports of most spices fell, those that registered a rise included turmeric, garlic and coriander. Garlic exports rose 159% on year to 57,346 tn in 2022-23. Exports of cumin declined 14% on year to 186,509 tn in 2022-23, while turmeric exports rose 11% on year to 170,085 tn. India exported 54,482 tn of coriander in 2022-23, up 12%, the data showed. Exports of small cardamom declined 30% on year to 7,352 tn and large cardamom fell 5% on year to 1,884 tn. Exports of chilli in 2022-23 declined 7% on year at 516,185 tn, while pepper fell 18% to 17,958 tn, according to the data. According to Gujarat government's third advance estimates released, jeera production is estimated to fall 9.3% on year to 200,780 tn. Gujarat is the second-largest producer of the commodity. Coriander production is seen to rise 81% on year to 376,090 tn in Gujarat, according to the state government's third advance estimates.

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