India spice prices steady, veg oil prices boil

MUMBAI (Commodity Online) : The cost of common spices and cooking oil have been rising steadily, further adding to the price woes of the Indian masses. A 20 gm. pouch of cardamom in Mumbai retail market was trading at Rs.46 or at a cost Rs. 2300 per kg.
Turmeric is pegged at Rs.340 per kg, down from 140 per kg a year ago.
Branded powder of the 'kashmiri' and 'bedgi' variety of red chilli has been trading at Rs.200-210 per kg, while two months ago, the commodity was at Rs.100-110.
Traders have been blaming commodity exchanges causal to the price rise of turmeric, cardamom as well as red chilli. Speculation has been pushing up the prices, they say.
The cartels put advance money into the supply side to ensure steady supplies and would declare that the crop shortages are in the offing.
Red chilli, though slated to arrive in the markets only at February end, cartels have already declared that there would be shortages.
In the whole sale market, trading of red chilli was being carried out at Rs.45 three months back. Now the prices stand at Rs.85 (as on Wednesday).
Traders argue that production shortfall of 5-15% is expected. But the corresponding prices have more than doubled. This is due to speculation.
Coriander prices too shot up. Two months back, coriander had been trading for Rs.20 but for the time being it is trading at Rs.47.
Pouch of sunflower oil in Mumbai has been trading at Rs.125, up from Rs.110, while bottled sunflower oil is at Rs. 135; up from Rs.125.

(Source: http://www.commodityonline.com/news/India-spice-prices-steady-veg-oil-prices-boil-35596-3-1.html)