Indian Spices market witnessed a mixed trend during the first four months of FY 2017 with turmeric prices staging a significant recovery after falling to their multi months low. Jeera prices rallied near to their life time high levels while bear held a firm grip in dhaniya market. For the short to medium term, uptrend is expected in most of the spices with demand side outweighing the supply side. This report on all these spices will guide the investors in terms of spicing up their investment in the medium term.

Price Movement:

The AMJ 2017 quarter had been bearish trend for the coriander futures on NCDEX as prices fell by around 36% due to ample supplies of the produce amid sluggish demand from domestic traders as well as exporters

The period also coincided with peak harvesting and arrival period, which had negative impact on the coriander prices both in spot and futures markets.

Further, the market was impacted by forecast of normal monsoon by IMD in the month of April 2017

In its first monsoon forecast report, IMD had projected 96% of LPA monsoon for the country as a whole during 2017 monsoon season

Supplies of both fresh and old crops at major spot markets amid limited demand weighed down the coriander futures, which plunged to five year’s low of Rs.4535 on 5th June, 2017

Intermittent price recovery was seen from middle of June’17 onwards on fresh bulk buying at multi-year low price levels

Covered in this Report:

1.Supply and Demand
2. Market-wise Arrivals
3. Export & Import
4. Fundamental Outlook
5. Technical Outlook

Price Movement:

Jeera futures prices witnessed huge volatility during Q1 and Q2 2017 tracking varying fundamental factors

Commencement of fresh crop supplies in February across all major trading centers weighed the jeera prices to trade in negative territory

However, fall was limited as production of jeera was estimated to decline in Gujarat and Rajasthan as against initial expectations of higher crop

Further, lack of supplies from other producing nations amid geo-political tensions resulted in steady demand for the Indian jeera in the international market

Prices rallied to their 11-month high of Rs.20145 per quintal during mid July tracking increased export demand for jeera from China and Bangladesh

Covered in this Report:

1. Supply and Demand
2. State-wise Arrivals
3. Export & Import
4. Fundamental Outlook
5. Technical Outlook

Price Movement:

The turmeric futures extended their bear market from 2016 into 2017 resulting in prices falling to their multi year low of Rs.5234 per quintal during May 2017  

Commencement of new crop supplies at the spot market amid expectations of higher crop pressurized the prices both at the spot and futures market

After slipping to multi year low, prices have registered decent recovery and presently trading at their multi months high

IMD forecasted monsoon in 2017 to be 96% of LPA, which was later upgraded to 98% of LPA while rainfall in South Peninsula, where most turmeric growing states is situated was forecasted at 99% o f LPA

Expectations of sharp decline in cultivation area under  turmeric due to poor returns in last season and prevailing lower prices at spot market despite normal monsoon forecasts supported the recovery in prices   

Active buying of the spice at spot market by stockiest and export buyers at lower prices lent support to the prices

Covered in this Report:

1. Supply and Demand
2. State-wise Arrivals
3. Monsoon Outlook 2017 & Sowing Progress
4. Export & Import
5. Fundamental Outlook
6. Technical Outlook

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Posted by Content Publisher Saturday, August 19, 2017 1:59:00 AM Categories: Medium Term Report


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