S
MARKET WRAP : 07/01/2011
Turmeric drops on profit booking
Pepper falls on poor exports
Jeera remain steady
Cardamom declines on short selling
Soy oil jumps on short covering
Guar up on falling arrivals
Mentha oil up on short covering
Mustard Seed tumbles on selling pressure
Traders are reportedly waiting for new Turmeric crop arrivals to initiate fresh demand. Demand for Jeera from US and European countries are likely to shift towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries is there. Tight supply position in Pepper against strong demand is prevailing in the global market and the prices are likely to remain firm until the fresh arrivals from major producing nations Vietnam and India are floated into the world markets. The buying from the guar gum manufacturers for their already signed consignments has come to an end. Adequate stocks following increased arrivals from the producing regions dampened the sentiment in Cardamom prices. Soybean crushing in India is going on with full speed and the availability of soy oil is not a problem in the domestic physical markets. International market sentiments were weak due to improved weather conditions in Argentinas soybean growing areas.
Turmeric drops on profit booking
Pepper falls on poor exports
Jeera remain steady
Cardamom declines on short selling
Soy oil jumps on short covering
Guar up on falling arrivals
Mentha oil up on short covering
Mustard Seed tumbles on selling pressure
Traders are reportedly waiting for new Turmeric crop arrivals to initiate fresh demand. Demand for Jeera from US and European countries are likely to shift towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries is there. Tight supply position in Pepper against strong demand is prevailing in the global market and the prices are likely to remain firm until the fresh arrivals from major producing nations Vietnam and India are floated into the world markets. The buying from the guar gum manufacturers for their already signed consignments has come to an end. Adequate stocks following increased arrivals from the producing regions dampened the sentiment in Cardamom prices. Soybean crushing in India is going on with full speed and the availability of soy oil is not a problem in the domestic physical markets. International market sentiments were weak due to improved weather conditions in Argentinas soybean growing areas.