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#1
9th October 2007, 11:36 AM
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Spices Report
Chilli:New crop of Chilli will start from the October second week. The stock level at Guntur warehouse is around 22 lakh bags. Spot market was down by Rs.50/-. From October month harvesting of new crop will start so supplies will be more that is the main reason October contract went down heavily
Medium Term: down Pepper: Vietnam is not offering ASTA grade pepper as they are running out of the stocks. Pepper exports from India are at 6 years high and all target set by Spices Board for exports is likely to achieve before timeline. Static output is expected this year for pepper it will also support the bullish sentiments in pepper Medium Term: Up Buy in dip level Jeera:Prices were hammered down due to quality issues of Jeera lying in Jodhpur warehouse but since cleaning of Jeera lying in Jodhpur warehouse improved sentiments and it will ensure deliveries will take place from Jodhpur warehouse. Despite of good export enquiries & strong international market prices are moving down mainly due domestic factors rather than international factors. Domestic demand in Jeera improved with buying coming from North. Medium Term: Up Buy December contract in dip level around 10000 level. Turmeric  ue to Fresh export orders from Iran and Dubai, festival season ahead, and domestic demand was good since last two days due to Diwali ahead. Warangal turmeric in NCDEX is putting lots of pressure on prices. Huge inventories in variouswarehouses at Erode and Nizamabad & Sangli are putting lots of pressure on prices. Medium Term: Sell Sell on rise counter  
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