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 Geojit Comtrade Limited 10th Floor, 34/659-P, Civil Line Road, Padivattom Kochi-682 024, Kerala Email: [email protected], [email protected] MCX Member code: 40220 FMC No.: MCX/TCM/CORP/1710 NCDEX Member code : 00920 FMC No.:NCDEX/TCM/CORP/0895 NMCE Member code: CL0324 FMC No.: NMCE/TCM/CORP/0245 ACE Member code: 6192 FMC No: ACEL/TCM/CORP/0429 Website: www.geojitcomtrade.com Disclaimer: Trading/investing in Commodity Derivatives involves considerable risk you may lose part or all of the initial investment. It is not ideal for all types of investors, and you are advised to seek professional assistance before the same. Past performance may not necessarily be repeated in the future. 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