Spices Insights for January 23, 2017
Commodity Online |
January 23 2017
- A mixed trend was witnessed in the Turmeric complex in major spot markets of the country during today’s trade.
- Turmeric prices moved up in the spot markets of the country during today’s trade.
- Improved off take was seen in the major Turmeric spot markets of the country which supported the prices and rising trend in futures trade also fuelled the rise in price.
- Jeera price also saw sharp gains in today’s trade in the Rajkot spot market of Gujarat, while flat trend was witnessed in the Unjha market.
- In the Rajkot spot market of Gujarat, Jeera price rose by Rs 75-125/20kg during today's trade.
- Good demand from buyers and prospects of lower crop than what was anticipated earlier is supporting Jeera price at current levels.
- New Jeera crop is likely to hit the market by February end- or early March in the spot markets of the country.
- Red Chilli price witnessed falls during today’s trade in the major spot markets of the country today.
- Supply of Red Chilli in the major spot markets witnessed a surge today and the trend is likely to continue in the coming days weighing on the prices.
- Spices exports from India grew five per cent in volume in the first half of FY 2016-17 and rose to Rs 8415.97 crore during the period, registering a seven per cent increase in value. Export volume of Spices rose to 4,37,360 tonnes during April-September 2016.