Category: Indian agri Commodity

Indian Agri Market Snapshot for week ended_April 16,2016

beelineadmin

Indian Agri Market Snapshot:

Last week remained volatile on the pricing as well as news outcomes front, meanwhile the week was short on trading front. During the week, Indian Agriculture Minister said many states and territories expressed their willingness to join NAM (National Agriculture Market). However, 21 mandis from 8 states have been selected for the pilot launch of NAM e-market platform. The following are the list of commodities to be traded in NAM – Wheat, Maize, Chana, Castor Seed, Jowar, Bajra, Barley, Groundnut, Soybean, Mustard Seed, Red Chilli, Cumin Seed, Cotton, Potato, Onion, Apple, Turmeric, Shelling Peas and Mahua Flower.

On Exports front during the week, good demand of Indian spices seen in overseas market, wherein enquiries in Cumin, Coriander, turmeric and chilli has increased as compare to previous month. Major traders were expecting prices to remain in pressure on back of arrival of new crop. While, according to Spice Board of India, exports remained 10% higher in comparison to 2015 same period last year.

TOP NEWS

  • The United States department of agriculture (USDA) maintained 2015-16 United States soybean production forecast for April while trimmed its forecast for ending stockpiles, the department said in its World Agriculture Supply and Demand Estimates report Wednesday.
  • USDA trims US cotton production – The United States department of agriculture (USDA) trimmed US and world production estimates for 2015-16, the USDA said in its World’s Agriculture Supply and Demand Estimates (WASDE). USDA slashed 2015-16 output estimates at 12.87 million bales, lower as compared 12.94 million bales previous forecast.

Cumin Seed

Prices of Cumin seed remain volatile during the week on back of arrival news in local markets and lower than expected exports demand. Prices of Cumin seed corrected during the week on profit booking from the higher levels while on dollar terms prices of cumin seed corrected nearly $50 from $2450 to the levels of $2400 FOB levels.

Prices dropped sharply in the first two days of the week started while during the last few days seen some recovery, while according to traders chances of prices to trade lower is less as good demand in domestic and international market to come in the upcoming weeks would support the lower prices.

Physical market arrivals during week were totaled to 45,000 bags in Unjha. According to physical market people downside would be limited due to lower crop of nearly 45 lakh bags (40 kg bag) this season.

Soybean

Prices of soybran remained muted during the first two days of the week while huge spike seen on Wednesday after USDA (United States Department of Agriculture) trimmed US soybean ending stockpiles estimation and also maintained output forecast and strong demand from China (World’s biggest soybean consumer). USDA trimmed its forecast for 2015-16 ending stockpiles to 445 million bushels in April compared to 460 million bushels in the previous month and 191 million bushels a year ago.

Soybean prices in International market hits fresh 8 month high in US on back of better than expected demand from importing country China, and outcome of stockpile report from USDA. Price of Soybean May Futures contract, in International market touched $9.49 ¼ a bushel in early trades.

China Import data suggest that country has imported nearly 6.1 million tons of soybeans last month – up 36% on yearly basis and record for March. China’s import rose strongly in March, demand from both feed and vegetable oil markets has increased the imports.

Cotton

Cotton prices rose to 18 month high during the week after USDA reports falling outputs for 2015-16 and raised Indian export estimates. According to the traders, Cotton prices been supported by strong demand and lower supplies are supporting the cotton prices domestically and internationally. CAI (Cotton Association of India) has further revised its production estimates downwardly to 34.5 million bales in its latest forecast, which were 35.3 million bales earlier. Latest, arrival reports show cotton arrivals across India have fallen below to 100,000 levels and its expected to fall further as per seasonality of the commodity.

According to the data released by IBIS and compiled by Agriwatch, Bangladesh imported 0.40 lakh bales of cotton from India in the past week (04 -10 Apr 2016). Other major importers were Pakistan, Vietnam, China and Indonesia and their imported volumes were 0.07 lakh bales, 0.10 lakh bales, 0.08 lakh bales and 0.07 lakh bales respectively.

SUGARM

Sugar Prices again started to elevate higher after profit booking seen last week. Prices traded higher on robust demand from bulk consumers and lower output estimates for 2015-16.  Indian 2015-16 sugar production until Mar 31 slumped 4% to 23.7 million tons on lower output from Maharashtra, India Sugar Mills Association (ISMA) said in press release. Indian sugar production up-till Mar 31 stood at 23.7 million tons as compared to 24.8 million tons same periods last year.

Some field reports suggest that due to less rainfall and lower water availability in reservoirs in some Districts in Maharashtra and North Karnataka, the acreage of sugarcane available for harvesting in 2016-17 sugar season will be lower. Therefore, there is a general expectation that sugar production during 2016-17 sugar season from the States of Maharashtra and Karnataka, due to lower acreage in some of their districts, will be lower than the current sugar season. Indian sugar production stood at 23.7 million tons as compared to 24.8 million tons same periods last year.

 

 

 

 

blog_image

 

 

 

 

 

Indian Agri Market Snapshot_Week Ended_April 11,2016

beelineadmin

Indian Agri Market Snapshot:

Markets during the week remain volatile but on specific complex of commodities. Current year summer is expected to be very high and long according to the meteorological department outcome says, which would affect agro commodities. Moreover, April to June is expected to be very hot as compare to the previous years same period, could be seen lower arrivals of commodities and lesser stock values. While on Rabi crop front fresh arrivals and export demand to impact market sentiments accordingly.  Last week, IMD outcome shows uncertainty over India monsoon to keep the specific commodities firm on the pricing front. In last quarter from Jan – Mar unexpected rain in some part of country has supported the prices of some commodities while time moves the impact was negligible which has also dragged some prices back to the normal levels which shows that pricings in coming months would move on the news and IMD outcomes but as and when real developments takes place the actual outcome would again play vital role for the pricing as well as physical arrivals in Mandis.

Various commodity agencies expect FY17 or current year 2016 commodities output would be very different from last few years. Last few years typically India has seen lower than expected rainfall which has directly impacted the farmers and rural consumption demand but if the rainfall develops as per expectations or could see better than expected water supply the year would be very fruitful.

Summer Season demand however started to pick which is directly reflecting the prices of seasonal commodities – like Sugar, Lemon and many more has been significant jump in local pricings which is impacting exports numbers adversely.

TOP NEWS

  1. Accoridng to the latest data outcome, India exported 42,997 tons of Castor Oil in March 2016, which shows decline in volumes as compared to Feb 2016. China, US and EU were active buyers throughout the year as seed and oil prices continue to rule lower in compare to previous year.
  2. Sowing Updates: Guar sowing in Gujarat during summer is continuously falling and lacking behind last year’s sowing. According to the recent outcomes, farmers have sown only 3800 hectares of guar seed till March 28th 2016 which is nearly 75% less sowing as compare to sowing done last year same period.

Cumin Seeds

Cumin Seed witnessed high volatility on the NCDEX exchange as well as in physical markets also. Prices remained firm on back of lower arrivals and strong exports demand. In spot market Unjha and Rajkot arrivals were 350 tonnes and 181 tonnes respectively which is lower than previous years same period. Additionally, NCDEX stock positions at accredited warehouse are 1711 tonnes and 246 MT are under process, till date 4th April.

Cumin Seed futures are expected to trade firm or could be said as to remain in positive bias in the near term. Prevailing bullish factors like – Rise in demand, strong export inquiries and quality seeds (high as compare to last two years) may support the price trend positive. However, traders at physical markets expects as and when arrivals increases in mandis prices may limit on the upper end. However, if any liquidation takes place some traders would see that as fresh buying opportunity in the near term.

Prices in local markets remained in the range of Rs 3050 – 3200 per 20 kg during the week as compare to 2800 – 2950 before few weeks.

SOYBEAN

Prices of soybean during the week remained mixed or could be said as after recent rally prices on the higher levels are consolidating. Soybean may trade flat next week on back of weak export demand and supply worries from United States. On International markets front, prices of soybean were under pressure on higher supply expectations from Brazilian traders on Tuesday raised its forecast of harvest to 99.9 million tons as compared to 99.1 million tons a month ago.

Additionally, bean prices remain under pressure on higher supply after informa raised its Argentine soy crop estimate to 59.5 million tons, from 59.0 million tons previously. We believe supply worries from Argentina will support the bean prices while weak export demand may cap the gains.

SUGAR

Sugar prices remained under pressure during the week after sharp rally seen of nearly 15% in last 2 months. Prices remained under pressure on back of weak export demand and profit booking from investors seen on higher levels. On export front, India the second largest sugar producer has contracted to export 1.6 million tons since began of Oct 1.  Government was instrumental persuading mills to agree target of 3.2 million tons of sugar exports in 2015-16.

Since global World food prices rose in March strong rebound in sugar prices, which combined with a further increase in vegetable oil quotations, Food and Agriculture Organization of the United States said in a press release Thursday. The FAO Food Price Index, which measures monthly changes for a basket of cereals, oilseeds, dairy, meat and sugar, in March averaged 151 points, nearly 1% higher than February.  Last month’s sharp increase mainly reflects the expectation of an even larger production deficit during the current crop year than earlier anticipated, following the recent heavy rainfall in Brazil, the world’s largest sugar producer. Reports of higher use of raw sugar for the production of ethanol in Brazil also boosted prices.

Coriander Seeds

Prices remain firms during the week on back of rising demand in local markets and active buying from the stockiest. Coriander prices on NCDEX remained strong during the week ended at the levels of 7156 per tons. On exports front, prices of Eagle quality 5% split traded firmly in the range of 1075 $ to 1120 $ FOB levels which is up by nearly 45 $ or 4% from previous week quotes.

Active buying from end user industries and limited supply of quality produce may support the price to trade high. On the other side, upsurge in arrivals during the ongoing harvesting season may cap gains but prices expected to trade positive in upcoming weeks on back of strong local demand and export trades.

 

 

 

current scheme

Indian Agri Market Snapshot_Week Ended_April 02,2016

beelineadmin

Indian Agri Market Snapshot:

Financial year and month end March saw the markets were steady and stable on the front of pricing and news outflows. Few physical markets were closed. Volatility was observed during the month, with an expectation of crop failing, unseasonal rain and stockiest demands. However, slight pickup in export demand, summer season and festive demand has push the prices of the few commodities higher while in some of the commodities profit bookings from the higher levels has also been seen.

Meanwhile, we believe the upcoming monsoon updates, crop outcomes and export demand will drive the market trends for specific commodities.

TOP NEWS

  • According to Senior Official from Meteorological Department – Onset of monsoon rains over India will likely to impact owing to El-Nino. However, according to present forecast by various international weather agencies – El Nino is declining and is expected to be neutral by May end. While we believe if El-Nino diminishes by may end it may impact onset of monsoon in India which starts in early phase of June.
  • IMD (Indian Meteorological Department) is likely to issue its first 2016 monsoon forecast in 3rd week of April, which may be normal as per various parameters available as of now.
  • According to Weather Department – Indian will have another hot period of summer this year, above the normal temperature historically. IMD says there is high probability of 76% maximum temperatures in the core heat wave zone during the year.

SOYBEAN

Soybean prices has seen volatility during the week but ended on the higher levels of 4119. Prices remain firm in the second half of the March on back of lower planting data outcome from USDA, firm global markets, and strong demand from stockiest in domestic market. Prices rose from the levels of 3800 to the levels of 4100 in the time span of just 15 – 20 working days.

USDA has projected US 2016 soybean planting lower at 82.2 million acres slightly below from the previous 82.7 million acres estimated planting in 2015. While on contrary, soybean stocks stored on farms are estimated at 728 million bushels, up 19% on yearly basis and off farm stocks at 803 million bushels up 12% from last year same month march.

CHANA

Market during the week remained firm, as strong demand from local traders and restricted arrivals. According to domestic trader- Rajasthan arrival of Chana may increase in coming days due to start of new financial year and prevailing higher prices. On physical market front – Mandis – Chana is hovering in the range of Rs 4200 – 4400 per quintal with the arrival of 15,000 – 20,000 bags per day.  In coming weeks, prices on the higher levels could see some pressure on back of arrival pressure in major mandis.

According to USDA outcome report – US farmers are planning to plant in large area of Chickpeas due to strong prices and demand, as compared to last year. As per expectations, planting area for small chickpeas to increase by 15% to 83,000 acres and for large chickpeas is expected to grow by 20%.

TOP NEWS

  1. On Buffer Stock of pulses – HAFED will procure Chana on behalf of NAFED in Haryana. Haryana gram production estimate is around 1.05 lk tonnes and arrivals are expected from Mid April. If prices in physical market decreases or comes around MSP, government intervention to cernment would pay Rs 75 per quintal over and above MSP.
  2. On Carry out stocks – Canadian Chickpeas are expected to fall from 125,000 MT in 2014-15 to 50,000 MT in 2015-16, mainly due to strong exports demand and lower production.

MCX COTTON

Cotton prices are moving high, rose to over one- month high in late morning trades in Friday, on back of falling output estimates for 2015-16. Fundamentals are bit supportive for uptrend as intensifying concerns over lower production of cotton amid tightening arrivals at major trading centers. Recent outcome of CIA (Cotton Association of India) has further revised its production estimates downwardly to 34.5 million bales as estimated before to 35.3 million bales. Cotton arrivals in current season have declined by more than 11% on year.

Market Movement

All India arrivals reported so far in current season stood at 24.84 million bales as on March 22, according to CCI (Cotton Corporation of India). Meanwhile, US plantation for cotton may stand at 9.562 million acres, up 11.4% as compared to last year. Upland area is estimated at 9.347 million acres, up11% and prima plantings forecast at 215,000 acres up 35.6% from 159,000 acre last year.

SUGARM

Sugar prices across the globe have skyrocketed, prices are trading firmly higher globally on back of lower stocks, summer demand and higher exports. Sugar price on exchange has gains nearly Rs 400 during March and further rise is imminent with pick up in demand for the hot summer season and export demand. Local traders say prices to remain firm in coming months. On retails pricing front prices have risen to Rs 40/kg from the levels of Rs 35/kg in the time span of just one month.

Sugar Consumption during summers remain pretty strong because of increased demand from confectioners, ice cream and aerated water manufacturers. Year of 2015 remains strong for sugar manufacturers on back of strong export demand, strong local demand, and lower stocks. On capital markets front sugar stocks surged in range of 50 – 80% in the time span of just 6 – 9 months.

Market Movement

Sugar market sentiment has changed drastically in last one year on back of lower stocks wherein, estimated export of nearly 1.7 million ton will bring down the carry forward stocks to below 8 million ton from 9 million tons a year before – according to ISMA official said.

According to domestic traders – Since price rise in global markets are showing bullish sentiment, boosting local stockiest confidence to stock the commodity on expectation of further increase in prices. If prices sees some pressure from higher levels stockiest or traders would support the prices from further fall on robust demand domestically and internationally.

Prices have seen sharp upward movement from the levels of Rs 3250 to the levels of Rs 3680 in the time span of just one month March.

 

current scheme

 

 

Indian Agri Market Snapshot_Week Ended_25th March

beelineadmin

Indian Agri Market Snapshot

Market during the week showed high volatility on prices front and seen some higher demand on physical front due to long holidays or festive season. Week ended 25th March was short due to long holidays. Overall trend during the week remain firm as physical market seen some demand on the domestic as well as export front.

Export demand seen on some unlisted commodities on back of upcoming Ramadan in June, wherein some activity from stockiest has seen from abroad. The upcoming month April and May would see strong movements or could be said, as exports demand would rise.

Till March 25th according to experts, Nearly 72% of the country has received excess rainfall in a phenomenon of unseasonal rains, which led to crop losses. Entire North, West and Central India has witnessed unseasonal rainfall.

Cumin Seed or Jeera

Historically, prices of Jeera has seen volatility during the same time on back of strong arrivals in Mandis, stockiest demands, exports demands and etc.  This year price rise seen on back of major reason of Unseasonal rainfall and supply of quality produce is low. According to traders estimate prices will rise 10% in coming 15 – 20 days on back of export demand revival soon.

March unseasonal rainfall fear of crop damages has supported the price rise as been estimated that could affect standing cumin crop. While we believe the prices of cumin may stable to high trend. On Arrival front, Unjha mandi’s daily arrival was 35,000 bags (bag of 40 kg) was seen. April export demand sets the April price trend on either side means if demand is good prices would move up while if demand is weak or slow prices would see profit booking or could move lower.

On Exports pricing front – Price for 99% Purity was quoting around $ 2228 PMT from the level of $ 2140 PMT – FOB (Free on Board) level.

SOYBEAN

Soybean prices surge in the starting of the week on back of strong demand while moving later to the week ended prices remain stable. Market traders expects prices may remain flat to positive in upcoming week on back of higher supply from Brazil and improved demand in export market. On international front, prices of the bean to remain under pressure on higher supply from Brazil, worlds third biggest bean producer, after reported that Brazilian soybean harvesting is 61% completed as compared to 59% completed year ago during the same period. However on lower prices demand from world’s biggest bean consumer China, would arise which could cushion soybean prices at lower levels.

Chana

Ncdex Chana prices have seen some strong support in the range of 4300 – 4340 on back of demand revival from bulk consumers and supplies in domestic markets. Market expects domestic demand in local mandis for peas is strong which can push the Chana prices to the higher levels. Peas demand in domestic market is strong on back of upcoming summer and wedding season. However, sharp rice in prices may be capped on higher supplies in local mandi’s. On physical front, last week arrivals of 8,000 bags in much spot markets were seen which was nearly 50% of the arrivals of 15,000 – 16,000 bags last year same period.

Top News

Meanwhile, Rajasthan is second biggest Chana producing state is expected to increase by 1.20 million tons as compare to 911,000 last year. Meanwhile, it is expected that arrival will increase in coming weeks and in peak season expected to reach 100,000 bags of chana every day. Additionally, government will buy additional 100,000 tons of pulses, mainly Gram, Massor Dals, from Rabi season.

SUGAR

Sugar prices once again sweetened during the week on robust demand from bulk consumers and lower output estimates for 2015-16. Indian sugar rose by 16% as country exported 86 thousand tons of sugar this week (March 20th) compared to 73.9 thousand tons of exported last week. On Domestic front, demand in local markets is increasing on upcoming wedding season and summer demand.  Lower prices were also supported on falling output forecast data for 2015-16.

Top News

Global Sugar Prices have hit 19 month high and reached 16.29 cent a pound, due to which Indian millers are finding themselves in sweet spot to win more contracts for exports, according to the ISMA (Indian Sugar Mills Association). Domestic millers have exported nearly 1.4 million ton sugar and some major contracts are under process, which shows demand is significantly higher than expected.

Recently, Maharashtra govt. exempted purchase tax on sugarcane for millers in the state. Previously, millers were supposed to pay 3% purchase tax on the FRP (Fair & Remunerative Price), which turns equivalent to Rs 9 per quintal of sugarcane.

WHEAT

Wheat prices seen some support in range of 1550 – 1555. Wheat has become the news or talkative story for the month as major news like importing duty implemented, cropping loss and low yield.  Recently, 25% import duty implemented on wheat south Indian millers have struck some import deals from Australia so far (around 3 lakh tons) for new marketing years and delivery is expected to reach in May this year. On contrary domestic front, new crop has started entering the market and would increase in April.

Top News

Importers Lobby are intentionally planting story for lower crop size so that government would revise import duty from 25%, however current situation suggest revision on import duty is unlikely.

Ethiopia has issued an international tender to buy around 499,000 metric tons of milling wheat sourced from optional origins as country continues purchases following a serious drought. Tender is likely to close on March 25th which would clear the picture of who tendered for supply and all.

As per latest update by USDA Phillippines wheat import may decline to 4.3MMT in MY 2015-16 due to sufficient stock. Imported volume may decrease by 16 % this year.

 

current scheme

 

Indian Agri Markets Snapshot_Week Ended_18th March

beelineadmin

Indian Agri Markets Snapshot 

Week remained very specific on the pricing movements and volatility where in prices of major commodities fell as arrivals picks up of the Rabi crops amidst lower demand in exports and domestically.

Specific commodities like Guar & Chickpeas showed moderate correction in pricing on back of higher arrivals in physical markets during the week while on the spices front Cumin Seeds has seen some support at lower levels while turmeric showed moderate profit booking from the recent sharp price movements in last few weeks. However, oil complex during the weak remained weak on back of slower demand in international markets.

TOP NEWS

Rabi crop arrivals to pick up in coming weeks, which could put pressure on the commodities as physical markets could see higher supplies amid slower demand in export markets are slow on back of political unrest and currency devaluations.

Spice Complex-showing signs of strong support on lower levels on back of lower crop arrivals or crop damage due to unseasonal rains or climate change.

SOYBEAN

During the week ended March 18 prices of soybean increased on the closing trades of Friday on back of supply worries from U.S and on international front seen some rising in demand. Recent outcome of USDA production estimates output of 106.9 million tons in March as compared to 107.1 million tons in previous month. Meanwhile during the week output from World’s third largest producer Argentina, been maintained at 58.5 million tons unchanged on monthly basis while been lower then year ago of 61.4 million tons.

In physical market prices remained volatile during the week on back of weak demand in mandis due to higher prices and limited arrivals form Madhya Pradesh, which is the biggest producing state in India. Beans prices been supported by improved demand after USDA reported higher sales and lower production output. Last week Net sales reported were up 51% at 623,700 tons as compared to previous week data output. However, the other major factor supported the prices was supply worries arise in the USDA report, according to NOPA.

Price of Soybean in NCDEX April Contract was 3772, while on the lower side price of 3732 has been tested.

WHEAT

Price during the week remained in downtrend, on back of outcome from Head Directorate of Wheat Research Mr. Gupta announced that unseasonal rains in north India unlikely to have any impact on the standing wheat crops and additionally he said the total output of Wheat to remain higher than the previous year. Last Year, wheat crop over 19 million hectare was affected due to heavy rains, winds and water logging however, current year there is no water logging and Sun shine has seen after the rains.

Wheat prices decreased by 1.84% from Rs 1682/ quintal to Rs 1651.2/quintal during the week ended. Overall, prices of wheat have declined by nearly 4.8% in last two weeks. In Physical markets prices in states like Karnataka, Kerala, Maharashtra and Odissa seen declines in prices while other states like Haryana, MP and many more has seen price increase. Additionally, Wheat stock in central pool was registered at 16.88 MMT (as of March 1st 2016), which is lower by nearly 13 % from previous year March 2015. According to the government procurement policy, on 1st April every year government needs to maintain 7.46 MMT wheat as buffer. If we include buffer as well as registered pool output then it is said that crop would be sufficient enough.

COTTON – MCX

Cotton prices slumped during the week and touched to the three month low on back of subdued demand from bulk consumers as well as weak demand in export markets.  On contrary, in physical market the news and output data suggest the prices to rise as news of attack of pink bollworms coupled with erratic rainfall or unseasonal rains had seriously impacted the cotton yield in Gujarat. With an estimated drop of 25-30% (during 2015-16) in cotton yield in the state is expected to reach the lowest level in 10 years.

Top News

Punjab Government has reduced the VAT (Value Added Tax) on cotton yarn and cloth from 6.05% to 3.63%. According to CAI (Cotton Association of India) arrivals during the current season till February are estimated at 245 lakh bales as compared to 276.25 lakh bales in same period last year. The estimation coming out from government agency indicates a lower crop this season while the major impact on prices is due to subdued demand in exports market.

Price of cotton has reduced significantly in last 2 months from the levels of 17,000 to the levels of 15,690 (Friday closing).

 

 

current scheme

 

 

Indian Agri Market Snapshot_Week Ended_March 11 2016

beelineadmin

Indian Agri Market Snapshot :

Domestic agri markets likely to trade volatile on back of new arrivals of rabi crops, recent changes in the climates and outcomes of the arrivals data. Demand for domestic and export markets likely to pick up as new crop arrivals will start rising in coming days in mandis. Recent weather report outcome shows prospects of rains in areas like North, North West & Central India are high which could adversely impact the rabi crop and the prices of the commodities also.

Top News

Recent developments of adverse weather impact, positive outcome from the Union budget, new arrivals in rabi crop and pick up in domestic demand on back of summer festivals – has lift the prices of various commodities from the lower levels strongly.

Cumin Seed or JEERA

Prices of Cumin seed & Coriander has shown an uptrend in Agri markets during the week ended on 11th March on back of adverse weather caused by Western disturbance. India is major producer and exporter of spices. Export data from Spice Board of India shows increase of 9% during 2014-15 to 8,93,920 tons as compared to 8,17,250 tons a year earlier.

Jeera prices on NCDEX March contract may see prices upwards on back of unseasonal rain, which adversely affected the report of crop damage in some regions of Gujarat (including Saurashtra) and Rajasthan. During last week in spot market moderate demand has seen from the stockiest which has supported the prices on the lower levels. Moreover, the production in Syria (second largest producer of cumin seed) and Turkey (third largest producer) is expected to be low by nearly 15% due to geo-political tensions which would led to positive sentiments in Jeera Market domestically in coming months on prices front.

Daily fresh arrival of 27,000 bags has been reported in Unjha market. However, overall output is expected to be higher than previous year, which would cap the prices of Jeera on higher levels.

Coriander Seeds

During last week prices of coriander has seen uptrend on back of crop damage report and fresh demand in the sport market. Buyers from different mandis like Kota, Ramganj and Gondal has seen active due to good quality new supply coming to the markets. Fresh arrivals in Kota- Rajasthan and Gondal – Gujarat has seen total arrivals of 920 and 376 quintals respectively.

Coriander prices to remain positive in coming weeks due to limited supply of new crop would attract good buyers; reports of unseasonal rainfalls, and demand from end-user industries of quality produce may support the prices on the lower sides.

Prices of Coriander have also seen uptrend in last week on back of unseasonal rains, which would have damaged some of the crop.

Key Points to Watch Out in Coming Week for Price Variations:

  • Unseasonal Rain – Effects and Crop Damage outcomes.
  • Arrivals of fresh crops in Mandis.
  • Export demand in International Markets.

 

current scheme