MUMBAI (Commodity Online): Cardamom and pepper in India's commodity exchange traded higher for the week (13th- 17th February) on higher demand from both domestic as well as international while, turmeric fell 10.11% during the period.
Cardamom in Multi Commodity Exchange (MCX) traded up 4.5% to Rs 801.80 per qtl from Rs 767 per qtl during the period while, pepper in National Commodity and Derivative Exchange (NCDEX) traded up 6.38% from 29,500 per qtl to Rs 31,385 per qtl.
Globally, cardamom production is mainly concentrated in India (Tamil Nadu, Kerala) and in Guatemala.
Lack of availability of high quality cardamom from Guatemala has diverted the buyers to India.
India's production in the current year is expected to rise 30% to 21000 tons. While, lower arrivals amidst demand from the local stockists led Spot prices to rally.
According to Spices Board of India, exports of pepper during April 2011- December 2011 stood at 19,500 tons as compared to 13,350 tons in 2010-11, rise of 46%.
Global Pepper production in 2012 is expected to increase 7.2% to 3.20 lakh tons as compared to 2.98 lakh tonnes in 2011 with sharp rise of 24% in Indonesia's output and in Vietnam by 10%.
Pepper production in Vietnam and Indonesia is projected at 1.10 lakh tonnes while that in Indonesia is projected to be 41 thousand tons.
Pepper production in India in 2011-12 is expected to be scale down further by 5% to 43 thousand tons as compared to 48 thousand tons reported last year.
Meanwhile, Jeera, Chilli and Turmeric fell drastically in the India's commexes during the period.
During the period (13th -17th February), chilli traded down 1.78% to Rs 5168 per qtl, coriander was down 0.20% to Rs 3,937 per qtl, Jeera down 1.63% to Rs 14164 and Turmeric fell drastically by 10.11% to Rs 4836 from Rs 5380.
In MCX, Cardamom for March delivery traded up 1.705 to Rs 815.40 on Saturday.
March delivery NCDEX, Chilli traded down 0.66% to Rs 5136 per qtl, Jeera down 0.58% to Rs 14168 per qtl and Pepper was down 1.13% to Rs 31155per qtl. while, Coriander traded up 0.12% to Rs 4125 per qtl and Turmeric for April delivery traded up 0.75 to Rs 4870 per qtl on 18th February at 12:45 IST.
