20 October 2014 SPICES ROUND UP Analyst: Vishidha Vijayakumar JEERA NCDEX JEERA FUTURES Contract Oct-14 Nov-14 Dec-14 Open 10920 10935 11110 High 10930 11050 11185 Low 10880 10920 11060 Last % Chg Vol ▲ Vol 10910 0.28 84 -102 10960 0.23 2055 -216 11095 -0.05 339 -84 OI 84 4911 1218 ▲OI -66 -210 45 Unjha Rate (NCDEX) Rs.10930/100kg Market Updates: Jeera futures are expected to trade higher as the demand is seen improving in major spot markets. As per market source, local stockists are buying in huge quantities as jeera market in Unjha will remain closed from Oct 21 on account of Diwali and will resume operations only on Oct 29. According to data from the Spices Board of India, shipments of the second-largest exported spice rose 32 percent on year to 58000 tonnes during April-July. Added, geo-political tensions in Syria, one of the major exporters of the spice, has led to good demand for Indian jeera from the overseas markets. According to the government's third advance estimate, India’s jeera output was pegged at 456000 tonnes in 2013-14 (Oct-Sep) as against 394000 tonnes last year. Daily Weather in Major Jeera Producing Areas: Weather was dry over Gujarat. 39 Deg C was the highest maximum temperature in the region recorded at Bhuj. 18 Deg C was the lowest minimum temperature in the region recorded at Gandhinagar. On Monday, weather will be mainly sunny in the districts of Gujarat State & in Diu, Daman, Dadra Nagar Haveli. International Price for the week ending 10/10/2014 (Spices Board of India): 2.87 US$/Kg CHART SPREAD Spot Oct-14 Nov-14 Dec-14 Oct-14 Nov-14 Dec-14 -20 30 165 0 50 185 0 135 0 Nov PVO Analysis 6250 11350 4250 11050 Price Volume/OI 11200 10900 2250 10750 10600 250 10450 1 2 3 4 Vol (Source: Cogencis) 5 6 OI 7 8 Close 9 10 TURMERIC NCDEX TURMERIC FUTURES Contract Open High Low Last % Chg Oct-14 6320 6400 6250 6276 -1.01 Nov-14 6162 6198 6010 6040 -2.20 Dec-14 6066 6092 5948 5964 -1.71 Vol 2725 6760 1895 ▲ Vol -75 -1650 -890 OI ▲ OI 150 -2350 9275 -325 5230 75 Nizamabad Rate(NCDEX) Rs.6083/100kg Market Updates: Turmeric futures closed lower on adequate supply of the spice in the major spot markets. As per market source, Nizamabad market will remain closed from Oct 20 on account of Diwali festival and will reopen on Oct 24. Added, total production of turmeric in the current year is expected to be 35-37 lakh bags (1 bag=75 kg) against 52 lakh bags last year. Traders mentioned that the crop in Nizamabad and Warangal is likely to decline to 17-18 lakh bags from 22 lakh bags projected last year. While the total crop size in Karnataka is estimated lower at 5 lakh bags from 7 lakhs bags in 2013-14. Daily Weather in Major Turmeric Producing Areas: Rainfall occurred at most places over Kerala and Tamil Nadu, at many places over Coastal Karnataka and at a few places over Coastal Andhra Pradesh and South interior Karnataka. Isolated rainfall occurred over Rayalaseema, Telangana and North interior Karnataka. On Monday, rain or thundershowers would occur at many places over Tamil Nadu, Puducherry, Kerala and Coastal Karnataka and at a few places over Rayalaseema, Interior Karnataka and South Coastal Andhra Pradesh. Isolated rain or thundershowers may occur over North Coastal Andhra Pradesh and Telangana. International Price for the week ending 10/10/2014 (Spices Board of India): 3.53 US$/Kg CHART SPREAD Oct-14 Nov-14 Dec-14 193 -43 -119 0 -236 -312 0 -76 0 Spot Oct-14 Nov-14 Dec-14 Nov PVO Analysis 12750 6500 6300 7750 6100 5250 5900 2750 250 5700 1 2 3 4 Vol (Source: Cogencis) 5 6 OI 7 8 9 10 Close Price Volume/OI 10250 CARDAMOM MCX CARDAMOM FUTURES Contract Nov-14 Dec-14 Jan-15 Open High Low Last % Chg 833 833 821.3 823.8 -0.82 835.8 838 828.9 830.7 -0.71 835.1 844.2 835.1 839.6 -0.56 Vol ▲ Vol OI ▲OI 876 -353 1366 70 92 -85 572 21 10 -10 42 1 Vandanmedu Rate (MCX) Rs.846/kg Market Updates: Cardamom futures extended down trend due to ample arrivals in major spot markets. Reports of weak export demand too weighed on cardamom futures. On Sunday, total arrivals of cardamom for the auction were around 121 tonnes with the spot price on an average quoted as Rs.738 per kg. The maximum price stood at Rs.1021 per kg. According to the latest data from the Spices Board of India, exports of small and large cardamom during April-July 2014, showed a decline of 5 percent to 755 tonnes and 17 percent to 115 tonnes, respectively. Daily Weather in Major Cardamom Producing Areas: Rainfall occurred at most places over Kerala and Tamil Nadu, Karnataka and at a few places over Andhra Pradesh. Isolated rainfall occurred over Rayalaseema and Telangana. On Monday, rain or thundershowers would occur at many places over Tamil Nadu, Puducherry, Kerala and Karnataka and at a few places over Rayalaseema and Andhra Pradesh. Isolated rain or thundershowers may occur over Telangana. International Price for the week ending 10/10/2014 (Spices Board of India): 15.04 US$/Kg CHART SPREAD Nov-14 Dec-14 Jan-15 Spot 22.2 15.3 1.7 Nov-14 0 -6.9 -15.8 Dec-14 0 -8.9 Jan-15 0 Nov PVO Analysis 2500 900 875 1500 Price Volume/OI 2000 850 1000 825 500 0 800 1 2 3 4 Vol (Source: Cogencis) 5 6 OI 7 8 Close 9 10 CORIANDER NCDEX CORIANDER FUTURES Contract Oct-14 Nov-14 Dec-14 Open 11740 12140 12493 High 11795 12209 12559 Low 11681 12092 12452 Last % Chg Vol ▲ Vol OI ▲OI 11725 -0.29 610 40 840 -450 12134 -0.25 12250 1750 32110 -480 12489 -0.26 4000 -600 20200 90 Kota Rate (NCDEX) Rs.11300/100kg Market Updates: Coriander futures are likely to trade rangebound with a negative bias due to sluggish demand along with sufficient supplies in major spot markets. As per market source, total stocks of around 50 lakh bags of coriander have been reported in cold storages. The government's third advance estimate pegged all India coriander output at 428000 tonnes in 2013-14 (Oct-Sep) as against 524000 tonnes last year. Exports of coriander during April-July 2014 have increased 40 percent to 16000 tonnes from 11412 tonnes a year ago, according to the data by the Spices Board of India. However, as per market source, higher prices and robust exports are likely to increase the acreage in the rabi season. Daily Weather in Major Coriander Producing Areas: Rain/thundershowers occurred at many places over Madhya Pradesh, Andhra Pradesh, Karnataka and Tamil Nadu. On Monday, heavy to very heavy rainfall would occur at a few places over Tamil Nadu. International Price for the week ending 10/10/2014 (Spices Board of India): 2.76 US$/Kg CHART SPREAD Oct-14 Nov-14 Dec-14 425 834 1189 0 409 764 0 355 0 Spot Oct-14 Nov-14 Dec-14 40500 13000 30500 12750 20500 12500 10500 12250 500 12000 Price Volume/OI Nov PVO Analysis 1 2 3 Vol (Source: Cogencis) 4 5 6 OI 7 8 9 10 Close OTHER SPICES Briefing: Arrivals of the new chilli crop have started in a few spot markets near Indore district in Madhya Pradesh, one of the major producers of the red spice in the country. Supply of good quality spice is likely from the first week of November. Total carry-forward stock in Madhya Pradesh is expected to be 10000-15000 bags (1 bag = 40 kg) which is negligible. Traders expect demand for spice to increase in coming weeks as new chilli crop in Andhra Pradesh, the largest producer in India, will arrive in January. STOCK OF COMMODITIES Commodity Exchange Jeera NCDEX Turmeric NCDEX Coriander NCDEX Cardamom MCX Centre Unit Unjha Jodhpur Erode(Salem) Nizamabad Sangli(Rajapore) tn tn tn tn tn Sangli(Desicuddapa) Baran Guna Kota Ramgunj Vandanmedu Bodinayakanur tn tn tn tn tn tn tn As on 17/10/2014 306 6 10 1612 Previous day 306 6 10 1592 30 90 309 16.8 10.2 30 90 309 12 10.2 Week ago 1 Month 3 Month period ago period ago period 306 309 902 6 27 72 10 10 205 1552 1203 450 325 30 90 90 50 369 559 600 10 10 30 10.3 8.2 - (Source: NCDEX, MCX) WEATHER All India Weather Updates: Rainfall has occurred at most places over Tamil Nadu and Kerala with heavy falls at isolated places. Warnings for 20 October 2014: Heavy to very heavy rainfall would occur at a few places over Tamil Nadu and Kerala. Heavy rainfall would occur at isolated places over Lakshadweep. 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