SPICES ROUND UP 20 October 2014 Analyst: Vishidha Vijayakumar

20 October 2014
SPICES ROUND UP
Analyst: Vishidha Vijayakumar
JEERA
NCDEX JEERA FUTURES
Contract
Oct-14
Nov-14
Dec-14
Open
10920
10935
11110
High
10930
11050
11185
Low
10880
10920
11060
Last % Chg Vol ▲ Vol
10910 0.28
84 -102
10960 0.23 2055 -216
11095 -0.05 339 -84
OI
84
4911
1218
▲OI
-66
-210
45
Unjha Rate (NCDEX)
Rs.10930/100kg
Market Updates: Jeera futures are expected to trade higher as the demand is seen improving in major spot markets.
As per market source, local stockists are buying in huge quantities as jeera market in Unjha will remain closed
from Oct 21 on account of Diwali and will resume operations only on Oct 29. According to data from the Spices
Board of India, shipments of the second-largest exported spice rose 32 percent on year to 58000 tonnes during
April-July. Added, geo-political tensions in Syria, one of the major exporters of the spice, has led to good
demand for Indian jeera from the overseas markets. 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. 39 Deg C was the highest maximum
temperature in the region recorded at Bhuj. 18 Deg C was the lowest minimum temperature in the region
recorded at Gandhinagar. On Monday, weather will be mainly sunny in the districts of Gujarat State & in Diu,
Daman, Dadra Nagar Haveli.
International Price for the week ending 10/10/2014 (Spices Board of India): 2.87 US$/Kg
CHART
SPREAD
Spot
Oct-14
Nov-14
Dec-14
Oct-14 Nov-14 Dec-14
-20
30
165
0
50
185
0
135
0
Nov PVO Analysis
6250
11350
4250
11050
Price
Volume/OI
11200
10900
2250
10750
10600
250
10450
1
2
3
4
Vol
(Source: Cogencis)
5
6
OI
7
8
Close
9 10
TURMERIC
NCDEX TURMERIC FUTURES
Contract Open High Low Last % Chg
Oct-14 6320 6400 6250 6276 -1.01
Nov-14 6162 6198 6010 6040 -2.20
Dec-14 6066 6092 5948 5964 -1.71
Vol
2725
6760
1895
▲ Vol
-75
-1650
-890
OI ▲ OI
150 -2350
9275 -325
5230 75
Nizamabad Rate(NCDEX)
Rs.6083/100kg
Market Updates: Turmeric futures closed lower on adequate supply of the spice in the major spot markets. As per
market source, Nizamabad market will remain closed from Oct 20 on account of Diwali festival and will reopen on Oct 24. Added, total production of turmeric in the current year is expected to be 35-37 lakh bags (1
bag=75 kg) against 52 lakh bags last year. Traders mentioned that the crop in Nizamabad and Warangal is
likely to decline to 17-18 lakh bags from 22 lakh bags projected last year. While the total crop size in Karnataka
is estimated lower at 5 lakh bags from 7 lakhs bags in 2013-14.
Daily Weather in Major Turmeric Producing Areas: Rainfall occurred at most places over Kerala and Tamil Nadu,
at many places over Coastal Karnataka and at a few places over Coastal Andhra Pradesh and South interior
Karnataka. Isolated rainfall occurred over Rayalaseema, Telangana and North interior Karnataka. On Monday,
rain or thundershowers would occur at many places over Tamil Nadu, Puducherry, Kerala and Coastal
Karnataka and at a few places over Rayalaseema, Interior Karnataka and South Coastal Andhra Pradesh.
Isolated rain or thundershowers may occur over North Coastal Andhra Pradesh and Telangana.
International Price for the week ending 10/10/2014 (Spices Board of India): 3.53 US$/Kg
CHART
SPREAD
Oct-14 Nov-14 Dec-14
193
-43
-119
0
-236
-312
0
-76
0
Spot
Oct-14
Nov-14
Dec-14
Nov PVO Analysis
12750
6500
6300
7750
6100
5250
5900
2750
250
5700
1
2
3
4
Vol
(Source: Cogencis)
5
6
OI
7
8
9 10
Close
Price
Volume/OI
10250
CARDAMOM
MCX CARDAMOM FUTURES
Contract
Nov-14
Dec-14
Jan-15
Open High Low Last % Chg
833
833 821.3 823.8 -0.82
835.8 838 828.9 830.7 -0.71
835.1 844.2 835.1 839.6 -0.56
Vol ▲ Vol OI ▲OI
876 -353 1366 70
92
-85
572 21
10
-10
42
1
Vandanmedu Rate (MCX)
Rs.846/kg
Market Updates: Cardamom futures extended down trend due to ample arrivals in major spot markets. Reports of
weak export demand too weighed on cardamom futures. On Sunday, total arrivals of cardamom for the auction
were around 121 tonnes with the spot price on an average quoted as Rs.738 per kg. The maximum price stood
at Rs.1021 per kg. According to the latest data from the Spices Board of India, exports of small and large
cardamom during April-July 2014, showed a decline of 5 percent to 755 tonnes and 17 percent to 115 tonnes,
respectively.
Daily Weather in Major Cardamom Producing Areas: Rainfall occurred at most places over Kerala and Tamil
Nadu, Karnataka and at a few places over Andhra Pradesh. Isolated rainfall occurred over Rayalaseema and
Telangana. On Monday, rain or thundershowers would occur at many places over Tamil Nadu, Puducherry,
Kerala and Karnataka and at a few places over Rayalaseema and Andhra Pradesh. Isolated rain or
thundershowers may occur over Telangana.
International Price for the week ending 10/10/2014 (Spices Board of India): 15.04 US$/Kg
CHART
SPREAD
Nov-14 Dec-14 Jan-15
Spot
22.2
15.3
1.7
Nov-14
0
-6.9
-15.8
Dec-14
0
-8.9
Jan-15
0
Nov PVO Analysis
2500
900
875
1500
Price
Volume/OI
2000
850
1000
825
500
0
800
1
2
3
4
Vol
(Source: Cogencis)
5
6
OI
7
8
Close
9
10
CORIANDER
NCDEX CORIANDER FUTURES
Contract
Oct-14
Nov-14
Dec-14
Open
11740
12140
12493
High
11795
12209
12559
Low
11681
12092
12452
Last % Chg Vol ▲ Vol
OI
▲OI
11725 -0.29
610
40
840 -450
12134 -0.25 12250 1750 32110 -480
12489 -0.26 4000 -600 20200 90
Kota Rate (NCDEX)
Rs.11300/100kg
Market Updates: Coriander futures are likely to trade rangebound with a negative bias due to sluggish demand along
with sufficient supplies in major spot markets. As per market source, total stocks of around 50 lakh bags of
coriander have been reported in cold storages. The government's third advance estimate pegged all India
coriander output at 428000 tonnes in 2013-14 (Oct-Sep) as against 524000 tonnes last year. Exports of
coriander during April-July 2014 have increased 40 percent to 16000 tonnes from 11412 tonnes a year ago,
according to the data by the Spices Board of India. However, as per market source, higher prices and robust
exports are likely to increase the acreage in the rabi season.
Daily Weather in Major Coriander Producing Areas: Rain/thundershowers occurred at many places over Madhya
Pradesh, Andhra Pradesh, Karnataka and Tamil Nadu. On Monday, heavy to very heavy rainfall would occur at
a few places over Tamil Nadu.
International Price for the week ending 10/10/2014 (Spices Board of India): 2.76 US$/Kg
CHART
SPREAD
Oct-14 Nov-14 Dec-14
425
834
1189
0
409
764
0
355
0
Spot
Oct-14
Nov-14
Dec-14
40500
13000
30500
12750
20500
12500
10500
12250
500
12000
Price
Volume/OI
Nov PVO Analysis
1
2
3
Vol
(Source: Cogencis)
4
5
6
OI
7
8
9 10
Close
OTHER SPICES
Briefing: Arrivals of the new chilli crop have started in a few spot markets near Indore district in Madhya Pradesh,
one of the major producers of the red spice in the country. Supply of good quality spice is likely from the first week of
November. Total carry-forward stock in Madhya Pradesh is expected to be 10000-15000 bags (1 bag = 40 kg) which
is negligible. Traders expect demand for spice to increase in coming weeks as new chilli crop in Andhra Pradesh, the
largest producer in India, will arrive in January.
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
17/10/2014
306
6
10
1612
Previous
day
306
6
10
1592
30
90
309
16.8
10.2
30
90
309
12
10.2
Week ago
1 Month
3 Month
period
ago period ago period
306
309
902
6
27
72
10
10
205
1552
1203
450
325
30
90
90
50
369
559
600
10
10
30
10.3
8.2
-
(Source: NCDEX, MCX)
WEATHER
All India Weather Updates: Rainfall has occurred at most
places over Tamil Nadu and Kerala with heavy falls at
isolated places.
Warnings for 20 October 2014: Heavy to very heavy
rainfall would occur at a few places over Tamil Nadu and
Kerala. Heavy rainfall would occur at isolated places over
Lakshadweep.
Monday, October 20, 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. The news and
views posted on this report is based on information which is believed to be accurate. This report is provided to enable you to make your own investment
decisions and should not be construed as investment advice. The author, directors and/or employees of Geojit Comtrade cannot be held responsible for the
accuracy of the content posted on this report or for decisions taken by the readers based on such information.