Spices-Daily-Fundamental-Report

20 July, 2021

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RED CHILLI
Fundamentals:
Today’s Update:

• Steady to weak sentiment witnessed in Red Chilli market on Monday.

• Buyers reported inactive at current higher prices due to overflow of chilli cold storage stocks in AP,
Telangana, Karnataka and expectations of increase in sowing area.
• Exporter’s demand is slow in the spot market due to increased shipping costs. Also, recent corona virus
lockdown in Bangladesh affects the sentiment.
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Previous Update:

• Chilli sowing started in major growing regions like AP, Telangana etc. and replanting will start from August
first week till September.
• As per current situation sowing area likely to go up by 30 – 40% as farmers are receiving higher prices
compared to last year. Cotton area likely to shift to Chilli in AP and Telangana.
• As per trade sources, around 65 – 68 lakh bags (1 bag = 40 kgs) new chilli stored at Guntur cold storage of
total capacity 70 lakh bags. AP total around 85 – 90 lakh bags stored.
• Agriwatch estimates, Red Chilli all India production for 2021-22 is estimated at 13.84 lakh MT. Last year’s
production was 12.32 lakh MT.
 Spices-Daily-Fundamental-Report
20 July, 2021

Red Chilli Spot Market Prices(Loose): (Rs/Qtl)

19-Jul- 19-Jul- 17-Jul- 17-Jul-
State Centre Grade 21 21 21 21 Change
Low High Low High
NCDEX Quality 9500 10500 Closed Closed -
LCA 334 10500 11500 Closed Closed -
Teja 14500 15300 Closed Closed -
No. 273 13000 14000 Closed Closed -
Guntur No. 5 13000 14000 Closed Closed -
Andhra Pradesh Benchmark
market Fatki 7000 9500 Closed Closed -
Byadgi 15000 16000 Closed Closed -
US 341 14000 15000 Closed Closed -
Denvor Delux 13500 14500 Closed Closed -
Indam 5 13000 14000 Closed Closed -
Teja 12600 14300 Closed Closed -
Wonder Hot 13500 15000 Closed Closed -
341 13000 14500 Closed Closed -
Warangal Denvor Delux 12500 14000 Closed Closed -
Telangana Paprika NA NA Closed Closed -
Fatki 6000 8500 Closed Closed -
Teja (Cold storage) 13500 15100 Closed Closed -
Khammam
Teja (Non cold storage) NA NA Closed Closed -
No. 12 NA NA Closed Closed -
Indu 2070 13500 14500 Closed Closed -
Madhya Pradesh Bedia Fatki 7000 7500 Closed Closed -
Jhankar 10000 11000 Closed Closed -
Ganesh NA NA Closed Closed -
Teja(Khamam) 17500 17500 Closed Closed -
M.P. MacoTeja NA NA Closed Closed -
Pala 12 NA NA Closed Closed -
Delhi New Delhi
LCA 334 NA NA Closed Closed -
Fatki NA NA Closed Closed -
Packing NA NA Closed Closed -
Dabbi NA NA NA NA -
Guntur NA NA NA NA -
Kaddi NA NA NA NA -
Dabbi Dlx Local 22500 25500 NA NA -
Dabbi Medium Best (Local) 20000 24000 NA NA -
Dabbi Best (Bellary) NA NA NA NA -
KDL Deluxe (Local) 11000 13000 NA NA -
KDL Deluxe (Bellary) NA NA NA NA -
Karnataka Byadgi KDL Best(Local) NA NA NA NA -
KDL Best(Bellary) NA NA NA NA -
KDL Medium 5000 7000 NA NA -
Denvor Deluxe NA NA NA NA -
2043 18000 19000 NA NA -
5531 12500 13500 NA NA -
C5 NA NA NA NA -
KDL Fatki 3000 3500 NA NA -
Seed Fatki 4000 6500 NA NA -
 Spices-Daily-Fundamental-Report
20 July, 2021

Arrivals & Off-take in bags (1 bag = 45 Kg), (1 bag = 38Kgs)*

State Centre Parameter 19-Jul-21 17-Jul-21 Change
Arrivals 70000 Closed -
Andhra Pradesh Guntur
Off-take 30000 Closed -
Warangal Arrivals 4000 Closed -
Telangana Arrivals (Cold storage) * 2000 Closed -
Khammam
Arrivals (Non cold storage) * NA Closed -
Karnataka Byadgi Arrivals 10000 NA -
 Spices-Daily-Fundamental-Report
20 July, 2021

TURMERIC
Fundamentals:
Today’s Update:
• Mixed sentiment witnessed in the Turmeric spot market on Monday.
• Turmeric sowing in Maharashtra and Telangana, till now 85 to 90% completed last year it was almost
finished. In Maharashtra, lower rainfall reported in Turmeric growing regions, farmers are worried about their
planted crops.
Previous Update:
• In Maharashtra, Sangli growing regions Turmeric area may go down by 5 – 10% as other competitive crop
like Soyabean, Paddy, Sugarcane prices are higher and short duration crop compared to Turmeric.
However, all India actual sowing scenario will come after 20 - 25 days. Current year, Turmeric farmers are
also receiving higher prices compared to last year.
• For the 2021-22 marketing period, Agriwatch expected 0.62 lakh MT ending stocks (with increasing exports
and domestic consumption), which is lower than 0.98 lakh MT from last year, likely to support prices from
the current level.

Turmeric Spot Market Prices (Loose): (Rs/Qtl)

State Centre Grade 19-Jul-21 17-Jul-21 Change
Nizam quality 7600 Closed -
Nizamabad Double polish finger 8500 Closed -
Benchmark market Gattah (unpolished) 6800 Closed -
Telangana
Gattah (double polished) 7900 Closed -
Finger 6400 Closed -
Warangal
Round 6000 Closed -
Finger 7500 Closed -
Erode Gattah 6800 Closed -
Sellem 7900 Closed -
Tamil Nadu Bulb NA NA -
Coimbatore
Finger NA NA -
Bulb NA NA -
Salem
Finger NA NA -
Bulb 5800 Closed -
Bilty 6322 Closed -
Andhra Pradesh Duggirala
Finger 5800 Closed -
Bilty 6322 Closed -
Rajpuri/Salem Finger NA Closed -
Sangli Rajpuri Medium NA Closed -
DesiKadappa NA Closed -
Salem Powder NR Closed -
Mini Salem NR Closed -
Maharashtra Basmat Super Salem NR Closed -
Gattah Powder NR Closed -
Gattah Premium NR Closed -
Turmeric Finger Polished 7200 7000 200
Nanded Turmeric Bulb Polished 6500 6300 200
Turmeric Mix 6700 6500 200
Gattah 8600 8600 Unch
Mini Salem 9500 9500 Unch
Delhi Delhi Finger Single Polished 8600 8600 Unch
Finger Double Polished 9500 9500 Unch
 Spices-Daily-Fundamental-Report
20 July, 2021

State Arrival & Off-take in bags *(1 bag = 75 Kg),#(1 bag = 60 Kgs)
Centre Parameter 19-Jul-21 17-Jul-21 Change
Arrival 4000 Closed -
Telangana Nizamabad
Off-take 4000 Closed -
Warangal Arrival 500 Closed -
Arrival 2000 Closed -
Erode
Off-take 2000 Closed -
Tamil Nadu
Coimbatore Arrival NA NA -
Salem Arrival* NA NA -
Andhra Pradesh Duggirala Arrival* 900 Closed -
Sangli Arrival# NA Closed -
Maharashtra Basmat Arrival* NR Closed -
Nanded Arrival 2000 1500 500
Arrival * Qtl

NCDEX-FUTURES MARKET
Turmeric
Contract +/-$ Open High Low Close Volume Vol. Change OI OI Change
July-21 +120 7380 7500 7400 7500 30 -1,180 365 -2,335
Aug-21 +60 7492 7750 7466 7550 2,505 270 11,280 785
Sep-21 +68 7624 7860 7584 7628 240 235 215 210

Spread July-21 Aug-21 Sep-21

Basis 100
July-21 50
Aug-21 78
NB: Spot prices used for spread calculation is the basis Nizamabad for Nizam grade. Basis = Spot prices– Near month
futures.

NCDEX- STOCK POSITION

Demat In-Process Total
Stocks
17.07.2021 17.07.2021 17.07.2021
Sangli 1961 0 1961
Erode -- -- --
Nizamabad 1344 0 1344
Warangal -- -- --
(Quantity in MT)

NCDEX Turmeric EED Wise Stock Position (Qty in MT) on 12th July, 2021
Sangli (Desi Sangli Nizamabad Basmat
EED Nizamabad Total
Cuddapah) (Rajapore) (Farmer Polished) (Salem)
10-Aug-21 -- 340 0 -- -- 340
10-Sep-21 -- 317 120 -- -- 437
10-Oct-21 -- 238 778 -- -- 1016
10-Nov-21 -- 896 190 -- -- 1086
10-Dec-21 -- 169 166 -- -- 335
10-Jan-22 -- -- 90 -- -- 90
Total -- 1960 1344 -- -- 3304
*EDD – Exchange Deliverable Date
 Spices-Daily-Fundamental-Report
20 July, 2021

BLACK PEPPER
Fundamentals:
Today’s Update:
• Continued steady sentiment witnessed in the Black pepper market on Monday.
• As of 19th July, new pepper 500 G/L traded at Rs.39,000/-qtl, steady from the previous day.
• Vietnam Pepper prices today (July 19) continued to move sideways in the generally speaking. As noted, the
purchasing price is still stable in the range of 72,000 - 75,500 VND/kg. In which, Gia Lai province recorded
the lowest price of 72,000 VND/kg. The two provinces of Dak Lak and Dak Nong continue to buy together at
VND 73,500/kg. Similarly, the two provinces of Binh Phuoc and Ba Ria - Vung Tau were traded at 74,500
VND/kg and 75,500 VND/kg respectively. Only Dong Nai province increased slightly by 500 VND/kg today,
reaching 73,000 VND/kg.

Previous Update:

• As per trade information, Sri Lankan pepper production will increase by 25% in 2021 to 25,000 tons.
Meanwhile, Sri Lanka's domestic pepper consumption is reported at only 12,000 tons. Therefore, the
possibility of a large amount of Sri Lankan pepper imported into India is very high and put cap on prices.
• As per trade information, the amount of Sri Lankan pepper entered the domestic market from January to
April 2021 was 4,000 tons, the highest level recorded in the past three years.
• According to VPA, Vietnam's pepper exports in June 2021 reached 34,000 tons, worth $120 million, up
21.6% in volume and 25.2% in value compared to May 2021. compared to June 2020 increased by 68.5% in
volume and 156.9 % in value.
• Generally in the first 6 months of 2021, Vietnam's pepper exports are estimated at 155,000 tons, worth 500
million USD, down 6.7% in volume, but up 40.6% in value over the same period in 2020.
• Continuous supply in the spot market pressurizes the prices at higher levels.
• The decrease in supply in Vietnam is the main reason for pushing up world pepper prices in recent years
and the price level is currently at the highest level since the end of 2017 until now.
• Vietnamese government has asked farmers not to expand the pepper crop to avoid oversupply in the
market. Currently, Vietnam pepper prices moving in the range of 71,000 - 74,500 VND/kg compared to last
year same period 49,500 - 51,000 VND/kg.
• In Malaysia, pepper farmers are now almost unable to harvest and sell their products to the market, even
though it is the main time, due to the complicated harvest developments of the pandemic. In Brazil, pepper
production is forecast to decline sharply in 2021 as the country is likely to face a severe drought from June
to September. This is forecast to be the worst drought in 91 years.
• According to the International Pepper Organization (IPC), Vietnam's 2021 pepper harvest will reach 180,000
MT, down 40,000 tons compared to the previous forecast, and 60,000 tons lower (down 25%) compared to
with the 2020 harvest.
• According to International Pepper Organization (IPC), in 2021, global pepper production is expected to
reach 555 thousand tons, down 21 thousand tons compared to 2020 (576 thousand tons).
• Global pepper exports in 2020 recorded a slight increase of 2% at 481 thousand tons. The top three
exporters are Vietnam, Brazil and Indonesia with a total market share of 89%.
 Spices-Daily-Fundamental-Report
20 July, 2021

Black Pepper Spot Market Prices (Loose): (Rs/Qtl)

State Centre Grade 19-Jul-21 17-Jul-21 Change
Kochi Ungarbled 40000 40000 Unch
Kerala
Benchmark market Garbled 42000 42000 Unch
Karnataka Chikkamagaluru Ungarbled 39700 Closed -
Unpolished 42500 42500 Unch
Delhi New Delhi
Number 11.5 46000 46000 Unch
Arrivals & Off-take in Tons
State Centre Parameter 19-Jul-21 17-Jul-21 Change
Arrivals 16 10 6
Kerala Kochi
Off-take 16 10 6

Black Pepper FOB Prices (USD/MT)

Lampung
Brazil ex Kochi Kuching (Sarawak, Ho Chi Minh Ho Chi
Date (Indonesia)
(India) ASTA Malaysia) ASTA (Vietnam) 500g/l Minh 550g/l
ASTA 570 ASTA 570
08/07/21 4000 5619 3811 4985 3800 3900
09/07/21 4000 5633 3811 4985 3800 3900
12/07/21 4000 5633 3827 4985 3800 3900
13/07/21 4000 5636 3827 4985 3800 3900
14/07/21 4000 5633 3825 4985 3800 3900
15/07/21 4000 5634 3823 4985 3800 3900
16/07/21 4000 5630 3819 5110 3800 3900
19/07/21 4000 - 3817 5110 3800 3900
 Spices-Daily-Fundamental-Report
20 July, 2021

JEERA (CUMIN SEED)

Fundamentals:
Today’s Update:
• Continued steady to firm sentiment witnessed in Jeera Unjha spot market on Monday.
• As we expected earlier, domestic buyers and exporters reported active in the spot market from lower prices
level.
Previous Update

• Buyers reported inactive in the spot market due to higher ending stocks.
• Export demand continuing at the Unjha spot market.
• As per the Agriwatch production estimate, Jeera production for 2021-22 (marketing period) is estimated at
391,801 MT (around 71 lakh bags each of 55 kg) compared to last year’s 451,451 MT (82 lakh bags).

Jeera (Cumin Seed) Spot Market Prices (Loose): (Rs/Qtl)

State Centre Grade 19-Jul-21 17-Jul-21 Change
Local 12700 12600 100
Unjha
NCDEX Quality 14100 14000 100
Benchmark market
Poojari type /Machine Cut 15000 14900 100
1% Singapore 13650 13550 100
2% Singapore 13400 13300 100
Mundra Port (FoR)
Gujarat 1 % European 14150 14050 100
2% European 13900 13800 100
Rajkot Local 12725 12595 130
Patan Local 12625 12625 Unch
Dhrol Local 11775 11675 100
Gondal Local 13005 13105 -100
Jodhpur Local 13000 12800 200
Merta City Local 15000 13500 1500
Rajasthan
Nagaur Local 13400 NR -
Anandpur Kalu Local NR NR -
Ganesh 14500 14500 Unch
Delhi New Delhi
Poojari type / Machine Cut 15500 15500 Unch
Arrival & Off-take in bags (1 bag = 55 kg)
State Centre Parameter 19-Jul-21 17-Jul-21 Change
Arrival 4500 4000 500
Unjha
Off-take 4500 4000 500
Rajkot Arrival* 500 200 300
Gujarat
Patan Arrival* 43 18 25
Dhrol Arrival* 17 22 -5
Gondal Arrival 1089 727 362
Jodhpur Arrival 1000 900 100
Merta City Arrival 2000 1500 500
Rajasthan
Nagaur Arrival 1200 NR -
Anandpur Kalu Arrival NR NR -
Arrival * Qtl
 Spices-Daily-Fundamental-Report
20 July, 2021

NCDEX-FUTURES MARKET
Jeera (Cumin Seed)
Contract +/-$ Open High Low Close Volume Vol. Change OI OI Change
July-21 +145 13380 13500 13380 13470 270 978 492 2,001
Aug-21 +155 13520 13645 13405 13600 1,419 402 6,552 552
Sep-21 +185 13630 13825 13675 13815 216 213 225 198

Spread July-21 Aug-21 Sep-21

Basis 630
July-21 130
Aug-21 215
NB: Spread was done by taking Spot prices at Unjha or NCDEX Quality. Basis = Spot prices– Near month futures.

NCDEX- STOCK POSITION

Demat In-Process Total
Stocks
17.07.2021 17.07.2021 17.07.2021
Jodhpur -- -- --
Unjha 4500 0 4500
(Quantity in MT)

NCDEX Jeera (Cumin Seed) EED Wise Stock Position Qty in MT on 12th July, 2021
EED Jodhpur Unjha Total
10-Sep-21 -- 1466 1466
10-Oct-21 -- 2445 2445
10-Nov-21 -- 329 329
10-Dec-21 -- 213 213
10-Jan-22 -- 42 42
Total -- 4495 4495
*EDD – Exchange Deliverable Date
 Spices-Daily-Fundamental-Report
20 July, 2021

CARDAMOM
Fundamentals
Today’s Update:
• Steady to weak sentiment witnessed in Cardamom spot market on Monday.
• Cardamom planters are releasing their produce at current prices level put cap on prices.

Previous Update:
• Cardamom auction resumed on 28th June at Idukki auction center after lockdown.
• Subdued demand in the upcountry markets has hit the sales and liquidity for buying in the consuming centers of
Delhi, Rajasthan, Madhya Pradesh, Uttar Pradesh etc.
• India’s production for the coming marketing year 2021-22 (which will start from August officially) expected better
around 30,000 MT also put the cap on prices.
• Cardamom planters were received higher prices last two years, therefore, they are taking care of their plants and
favourable weather condition, is the main reason for expecting good crop in the coming year.
• As we expected earlier, the new Cardamom supply pressurizes the prices from higher levels due to increased
production.
• Agriwatch estimates for 2020-21, India’s Cardamom production would be around 22,000 – 23,000 MT, due to
favourable weather conditions. Last year it was 19,000 – 20,000 MT.

Small Cardamom Spot Market Prices (Loose): (Rs/Kg)

State Auction Price 19-Jul-21 17-Jul-21 Change
Kochi Max price 1550 1694 -144
Kerala
Benchmark market Avg. Price 1125 1148 -23
Medium 1000 1000 Unch
6.5 (Bold) 1100 1100 Unch
Delhi New Delhi 7 (Bold) 1350 1350 Unch
7.5 (Bold) 1600 1600 Unch
8 (Bold) 1950 1950 Unch
Large Cardamom Spot Market Prices: (Rs/Kg)
Singtam Badadana NA NA -
Singtam Chotadana NA NA -
Sikkim
Gangtok Badadana NA NA -
Gangtok Chotadana NA NA -
Siliguri Badadana NA NA -
West Bengal
Siliguri Chotadana NA NA -
Arrival & Off-take in Kg
State Parameter Centre 19-Jul-21 17-Jul-21 Change
Arrivals 65850 54787 11064
Kerala Kochi
Off-take 63108 54787 8321
 Spices-Daily-Fundamental-Report
20 July, 2021

MCX-FUTURES MARKET
Cardamom
Contract +/-$ Open High Low Close Volume Vol. Change OI OI Change
July-21 -- -- -- -- -- -- -- -- --
Aug-21 -- -- -- -- -- -- -- -- --
Sep-21 -- -- -- -- -- -- -- -- --

Spread July-21 Aug-21 Sep-21

Basis -- -- --
July-21 -- -- --
Aug-21 -- -- --
NB: Spread was done by taking Spot prices of Average quality prices. Basis = Spot prices– Near month futures.

MCX- STOCK POSITION

Demat In-Process Total
Stocks
17.07.2021 17.07.2021 17.07.2021
Vandanmedu - - -
T.N.(Bodi) -- -- --
(Quantity in MT)

MCX Cardamom EED Wise Stock Position Qty in MT on 12th July, 2021
EED Vandanmedu T.N.(Bodi) Total
-- -- -- --
-- -- -- --
*EDD – Exchange Deliverable Date
 Spices-Daily-Fundamental-Report
20 July, 2021

CORIANDER SEED
Fundamentals:
Today’s Update:
• Steady sentiment witnessed in Coriander spot market on Monday.

Previous Update:
• MP and Rajasthan mandi closed due to stock limit protest. (16 July).
• Ramganj mandi coriander trading happening in alternate days and in Bhawani mandi trading happening only two
days Thursday and Saturday due to covid 19 restrictions.
• Increasing arrivals reported in the spot market. Farmers are releasing their produce as coriander prices are
higher compared to last year.
• Currently buyers reported inactive at the spot market. However, they may active in coming days as ending stocks
slowly come down.
• Agriwatch estimates lower ending stocks for 2021-22 (marketing year) likely to support Coriander prices in the
coming days.
• As per Agriwatch production estimate, Coriander production for 2021-22 (marketing year) is estimated at 342,435
MT (85 lakh bags) compared to last year’s 352,316 MT (88 lakh bags, 1 bag = 40 kg).
• We expect the 2021-22 marketing year likely to be good for Coriander.

Coriander Spot Market Prices (Loose): (Rs/Qtl)

State Centre Grade (New) 19-Jul-21 17-Jul-21 Change
Eagle 6500 6500 Unch
Kota Eagle(Split) 6800 6800 Unch
Benchmark
Badami 6200 6200 Unch
market
Badami(Split) 6500 6500 Unch
Eagle 6500 6500 Unch
Eagle(Split) 6500 6500 Unch
Ramganj Badami 6300 6300 Unch
Rajasthan
Badami(Split) 6300 6300 Unch
Scooter 7500 7500 Unch
Eagle 6200 6200 Unch
Baran
Badami 5900 5900 Unch
Eagle NA 6000 -
Badami NA 5800 -
Bhawani
Scooter NA 6200 -
Double Paroot NA NA -
Badami 5800 5800 Unch
Guna Eagle 6200 6200 Unch
Scooter 6800 6800 Unch
Madhya Pradesh
Badami 6100 6100 Unch
Neemuch Eagle 6400 6400 Unch
Scooter NA NA -
Badami 6455 6480 -25
Gujarat Gondal
Eagle 7205 7055 150
Eagle (Dal) 8000 NR -
Khari Baoli
Delhi Eagle 9000 NR -
(Delhi)
Scooter 12500 NR -
 Spices-Daily-Fundamental-Report
20 July, 2021

Arrival & Off-take in bags (1 bag = 40 kg)

State Centre 19-Jul-21 17-Jul-21 Change
Arrival 500 500 Unch
Kota
Offtake 500 500 Unch
Arrival 3000 2000 1000
Ramganj
Offtake 3000 2000 1000
Rajasthan
Arrival 1000 1000 Unch
Baran
Offtake 1000 1000 Unch
Arrival NA 100 -
Bhawani
Offtake NA 100 -
Arrival 2000 2000 Unch
Guna
Offtake 2000 2000 Unch
Madhya Pradesh
Arrival 500 500 Unch
Neemuch
Offtake 500 500 Unch

NCDEX-FUTURES MARKET
Coriander
Contract +/-$ Open High Low Close Volume Vol. Change OI OI Change
July-21 +220 6700 6920 6920 6920 70 -1,730 145 -1,400
Aug-21 +164 6874 6998 6830 6968 1,575 -275 6,710 520
Sep-21 +222 6900 7056 6892 7056 225 225 110 110

Spread July-21 Aug-21 Sep-21

Basis -420
July-21 48
Aug-21 88
NB: Spread was done by taking Spot prices of Average quality prices at Kota. Basis = Spot prices– Near month futures

NCDEX- STOCK POSITION

Demat In-Process Total
Stocks
17.07.2021 17.07.2021 17.07.2021
Baran - - -
Gondal 4418 30 4448
Kota 455 0 455
Ramganj - - -
(Quantity in MT)

NCDEX Coriander EED Wise Stock Position Qty in MT on 12th July, 2021
EED Gondal Kota Ramganj Mandi Total
10-Sep-21 457 435 -- 892
10-Oct-21 2694 10 -- 2704
10-Nov-21 516 -- -- 516
10-Dec-21 808 10 -- 818
10-Jan-22 160 0 -- 30
Total 4635 455 -- 5090
*EDD – Exchange Deliverable Date
 Spices-Daily-Fundamental-Report
20 July, 2021

CLOVE

Clove Spot Market Prices (Loose): (Rs/Qtl)

State Centre Grade 19-Jul-21 17-Jul-21 Change
Kochi 70500 70500 Unch
Kerala Kerala Kattapana 63000 63000 Unch
Idukki NR NR -
Madagascar 69000 69000 Unch
Delhi Delhi
Zanzibar NA NA -

Disclaimer
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