SPICES ROUND UP 10 November 2014 Analyst: Vishidha Vijayakumar

10 November 2014
SPICES ROUND UP
Analyst: Vishidha Vijayakumar
JEERA
NCDEX JEERA FUTURES
Contract
Nov-14
Dec-14
Jan-15
Open
11435
11480
11520
High
11660
11795
11980
Low
11305
11440
11520
Last % Chg
11660 3.97
11795 3.97
11980 3.99
Vol ▲ Vol
3792 2094
5493 3900
705 564
OI
2826
4128
912
▲OI
-732
969
348
Unjha Rate (NCDEX)
Rs.11500/100kg
Market Updates: Jeera futures traded with a positive bias due to concerns over a decline in the acreage. As well,
export orders are likely to divert to India due to supply crunch from the two major exporting countries, Syria
and Turkey. According to the report from Spices Board of India, the country is estimated to export 100000
tonnes worth Rs.1300 crores for the financial year April 2014 to March 2015. Meanwhile, reports of sufficient
stocks in the domestic market may as well keep the prices under check. Sowing in Gujarat is expected to
accelerate by mid-November. 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. On Monday, weather will be sunny
in the districts of Gujarat state and in Diu, Daman, Dadra Nagar Haveli.
International Price for the week ending 24/10/2014 (Spices Board of India): 2.87 US$/Kg
CHART
SPREAD
Nov-14 Dec-14 Jan-15
Spot
160
295
480
Nov-14
0
135
320
Dec-14
0
185
Jan-15
0
Nov PVO Analysis
11950
11800
4250
11650
Price
Volume/OI
6250
11500
2250
11350
250
11200
1
2
3
4
Vol
(Source: Cogencis)
5
6
OI
7
8
Close
9 10
TURMERIC
NCDEX TURMERIC FUTURES
Contract Open High Low Last % Chg
Nov-14 6194 6326 6166 6298 1.55
Dec-14 6320 6496 6264 6448 2.48
Apr-15 7216 7454 7120 7412 3.40
Vol
5145
6645
4165
▲ Vol
2415
4015
2645
OI ▲ OI
6195 -1210
6725 435
9430 2390
Nizamabad Rate(NCDEX)
Rs.6227/100kg
Market Updates: Turmeric futures are likely to trade higher due to concern over production. As per market source,
total production of turmeric in the current year is expected to be 35-37 lakh bags (1 bag=75 kg) against 52
lakh bags last year. Traders mentioned that the area under new crop is still a major concern in states like Tamil
Nadu and few areas in Karnataka due to delayed monsoon rainfall and poor price realization. Similar trend is
also seen in Maharashtra. Added, area under turmeric in the state of Andhra Pradesh and Telangana is at 0.13
lakh hectare and at 0.45 lakh hectare in 2014 respectively, almost same over the last year but still area fall
lower than normal.
Daily Weather in Major Turmeric Producing Areas: Rainfall occurred at a few places over Coastal Andhra
Pradesh. Isolated rainfall occurred over Rayalaseema, Telangana, Kerala, Tamil Nadu and Coastal Karnataka.
Dry weather prevailed over interior Karnataka. On Monday, rain or thundershowers would occur at many
places over Andhra Pradesh and Telangana and at a few places over Tamil Nadu, Puducherry, Kerala and North
interior Karnataka. Isolated rain or thundershowers may occur over Coastal and South interior Karnataka.
International Price for the week ending 24/10/2014 (Spices Board of India): 3.53 US$/Kg
CHART
SPREAD
Spot
Nov-14
Dec-14
Apr-15
Nov-14 Dec-14 Apr-15
71
221
1185
0
150
1114
0
964
0
8250
6500
6250
6300
4250
6100
2250
5900
250
5700
1
2
3
4
Vol
(Source: Cogencis)
5
6
OI
7
8
9 10
Close
Price
Volume/OI
Nov PVO Analysis
CARDAMOM
MCX CARDAMOM FUTURES
Contract
Nov-14
Dec-14
Jan-15
Open High
807.3 813
862.4 878
880
900
Low Last % Chg Vol ▲ Vol
799
799
-3.99 272 -387
848.5 855.7 -0.78 1475 -214
880 883.1 -0.25 167
5
OI ▲OI
213 -136
913 95
301 26
Vandanmedu Rate (MCX)
Rs.837/kg
Market Updates: Cardamom futures may extent weakness due to sufficient stocks and high arrivals in major spot
markets. On Sunday, total arrivals of cardamom for the auction were around 125 tonnes with the spot price on
an average quoted as Rs.761 per kg. The maximum price stood at Rs.1003 per kg. As per report from traders,
cardamom output is estimated to be 20000 tonnes against 22000 tonnes a year ago, and against a forecast of
14000-15000 tonnes made in June. Added, India's carryover stocks are expected to be around 5000 tonnes.
According to the government's third advance estimate, all-India cardamom output is around 21000 tonnes in
2013-14 against 18000 tonnes the year before.
Daily Weather in Major Cardamom Producing Areas: Rainfall occurred at a few places over Andhra Pradesh.
Isolated rainfall occurred over Rayalaseema, Telangana, Kerala, Tamil Nadu and Karnataka. On Monday, rain or
thundershowers would occur at many places over Andhra Pradesh and Telangana and at a few places over
Tamil Nadu, Puducherry, Kerala and Karnataka.
International Price for the week ending 24/10/2014 (Spices Board of India): 14.95 US$/Kg
CHART
SPREAD
Spot
Nov-14
Dec-14
Jan-15
Nov-14 Dec-14 Jan-15
38
-18.7
-48.3
0
-56.7
-84.1
0
-27.4
0
Nov PVO Analysis
2000
900
1750
875
1250
Price
Volume/OI
1500
1000
850
750
500
825
250
0
800
1
2
3
4
Vol
(Source: Cogencis)
5
6
OI
7
8
Close
9
10
CORIANDER
NCDEX CORIANDER FUTURES
Contract
Nov-14
Dec-14
Jan-15
Open
12098
12437
12700
High
12113
12438
12730
Low
11734
12125
12435
Last % Chg Vol ▲ Vol
OI
11764 -2.19 15680 7420 14370
12157 -1.63 20820 10880 29130
12458 -1.68 9320 5190 16200
▲OI
-3760
1170
-990
Kota Rate (NCDEX)
Rs.11313/100kg
Market Updates: Coriander futures are likely to trade with a negative bias due to sluggish demand along with
forecast of substantial increase in acreage. However, coriander prices in the spot market rose due to fall in
stocks in domestic and global markets. The government's third advance estimate pegged all India coriander
output at 428000 tonnes in 2013-14 (Oct-Sep) as against 524000 tonnes last year. Exports of coriander during
April-July 2014 have increased 40 percent to 16000 tonnes from 11412 tonnes a year ago, according to the
data by the Spices Board of India. However, as per market source, robust exports are likely to increase the
acreage in the rabi season.
Daily Weather in Major Coriander Producing Areas: Light rain/snowfall has occurred at many places over Andhra
Pradesh.
International Price for the week ending 24/10/2014 (Spices Board of India): 2.76 US$/Kg
CHART
SPREAD
Spot
Nov-14
Dec-14
Jan-15
Nov-14 Dec-14 Jan-15
451
844
1145
0
393
694
0
301
0
Nov PVO Analysis
40500
13000
12750
12500
20500
12250
Price
Volume/OI
30500
12000
10500
11750
500
11500
1
2
3
Vol
(Source: Cogencis)
4
5
6
OI
7
8
9 10
Close
OTHER SPICES
Briefing: At the 42nd session of the International Pepper Community (IPC) held in Ho Chi Minh City, Vietnam, the
Spices Board pegged the Indian output in 2015 at 70000 tonnes, consisting of 68000 tonnes of black and 2000 tonnes
of white pepper. According to the IPC data, global production this year is estimated at 336000 tonnes against 379300
tonnes last year. Carry forward stocks from last year have been projected at 84706 tonnes. Global production
projected for next year is 374500 tonnes, 5000 tonnes lower than 2013. Carry forward stocks from next year to 2016
are estimated at 60386 tonnes. This year, carry forward stocks are estimated at 59036 tonnes. Exports next year been
projected at 278305 tonnes against 268755 tonnes. At the same time, domestic consumption in producing countries
has been put at 138270 tonnes against 145540 tonnes this year.
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
07/11/2014
621
51
10
1911
Previous
day
621
57
10
1911
90
140
1321
349
16
13.1
90
150
1281
329
16
13.1
Week ago
1 Month
3 Month
period
ago period ago period
582
408
294
12
6
72
10
10
10
1881
1542
640
90
90
90
110
209
20
1089
369
590
269
130
17.5
11.2
-
(Source: NCDEX, MCX), *including NEW
WEATHER
All India Weather Updates: Thunderstorm has been
observed at isolated places over coastal Andhra Pradesh.
Fog/shallow fog has been observed at isolated places over
Delhi and Bihar.
Warnings for 10 November 2014: Heavy rainfall would
occur at isolated places over Andaman & Nicobar Islands.
Monday, November 10, 2014
(Source: IMD) *WS-Wide Spread, FWS-Fairly Wide Spread, SCTScattered, ISOL-Isolated, MD-Mainly Dry
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