Sunday, May 22, 2011
Chilli, turmeric weaken on subdued demand
NEW DELHI, MAY 21:
Red chilli and turmeric prices fell by up to Rs 200 per quintal in the national capital today due to subdued demand from retailers and stockists amid adequate stocks.
Also, weak futures market trend and increased arrivals from the producing belts also put pressure on the prices.
Red chilli and turmeric prices declined by up to Rs 200 to settle at Rs 9,000-13,000 and Rs 10,500-15,500 per quintal, respectively.
Market analysts said subdued demand from retailers and stockists against adequate stocks mainly led to the fall in chilli and turmeric prices at the wholesale kirana market here.
Following are the quotations in Rs per quintal:
Ajwain 17,500-23,000, black pepper common 28,500-28,700, betelnut (kg) 110-120, cardamom brown-Jhundiwali (kg) 980-1,000 and cardamom brown-Kanchicut (kg) 1,100-1,250.
Cardamom small (kg): Chitridar 720-740, cardamom (colour robin) 700-740, cardamom bold 710-740, cardamom extra (bold) 980-1,040 and cloves (kg) 520-590.
Source: http://www.thehindubusinessline.com/markets/commodities/article2037656.ece
Tuesday, May 17, 2011
Chilli, turmeric fall on subdued demand
New Delhi, May 17 (PTI) Chilli and turmeric prices fell by up to Rs 300 per quintal in the national capital today due to subdued demand from retailers and stockists amid adequate stocks.
Red chilli and turmeric prices shed up to Rs 300 to settle at Rs 9,200-13,200 and at Rs 10,300-15,300 per quintal, respectively.
Market analysts said subdued demand from retailers and stockists amid adequate stocks mainly pulled down the chilli and turmeric prices in the wholesale kirana market here.
Following are today''s quotations in Rs per quintal:
Ajwain 17,500-23,000, black pepper common 28,800-30,000, betelnut (kg) 110-120, cardamom brown-Jhundiwali (kg) 980-1,000, and cardamom brown-Kanchicut (kg) 1,100-1,250.
Cardamom small (kg): Chitridar 730-750, cardamom (colour robin) 710-750, cardamom bold 720-750, cardamom extra (bold) 990-1,050 and cloves (kg) 500-570.
(Source: http://in.news.yahoo.com/chilli-turmeric-fall-subdued-demand-094500920.html)
Wednesday, May 4, 2011
Chilli rises on fresh buying
Chilli futures escalated on buying interest in the counter. Spot prices remained steady and prices traded near Rs 8500 per quintal. Fresh arrivals were declined drastically and reported near 30000 bags compared with 75000 bags in the previous day.
As per media sources, Domestic market intelligence Cell ( DEMIC) sources told farmers to hold the stock and sell towards May –June to take advantage of better pricing.
As per market sources, production in 2010-11 were expected near one million tons which is 16 percent lesser than last year production.
Attention of farmers to highly rewarding crop like turmeric and cotton and erratic weather condition during the sowing period had considerably reduced the area under cultivation.
Courtesy: Geojit Comtrade Limited
(Source: http://www.commodityonline.com/futures-trading/tradingtips/Chilli-rises-on-fresh-buying-12790.html)
Saturday, April 30, 2011
Chilli plunges on fresh arrivals
Chilli futures cascaded due to the slow down in demand as well as arrival sentiments. Spot prices traded near Rs 9100 per quintal.
Fresh arrivals were reported near 55000 bags compared with 50000 bags in the previous day.
As per media sources, Domestic market intelligence Cell ( DEMIC) sources told farmers to hold the stock and sell towards May –June to take advantage of better pricing. Rains in December end had badly affected the quality of crop output.
As per market sources, production in 2010-11 were expected near one million tons which is 16 percent lesser than last year production.
Attention of farmers to highly rewarding crop like turmeric and cotton and erratic weather condition during the sowing period had considerably reduced the area under cultivation.
Courtesy: Geojit Comtrade Limited
Wednesday, April 27, 2011
Chilli weakens on fresh arrivals
Chilli futures cascaded on arrival sentiments. Spot prices traded near Rs 9000 per quintal. Fresh arrivals were reported near 100000 bags compared with 95000 bags in the previous day. According to trader sources export demand is expected to increase from Bangladesh and china.
Rains in December end had badly affected the quality of crop output. As per market sources, production in 2010-11 were expected near one million tons which is 16 percent lesser than last year production.
Attention of farmers to highly rewarding crop like turmeric and cotton and erratic weather condition during the sowing period had considerably reduced the area under cultivation.
Courtesy: Geojit Comtrade Limited
Tuesday, April 26, 2011
Chilli drops on profit selling
The Chilli futures showed negative trend on profit selling on higher levels on Monday. From starting of the session prices traded down. Increased arrivals at spot market that to of inferior quality pulled down the prices and futures ended the day with fall of more then 2%.
Outlook
Chilli June futures are projected to open on flat note on Tuesday. However, prices are expected to resume up-trend on lower levels buying. Good buying from stokiest amid decline in arrivals at spot market is likely to sup-port the prices.
Arrivals at spot market of Guntur were reported around 50,000-60,000 bags today (Each bag= 40Kg.).
Spot market of Guntur will be closed from May, 20th for a month due to rise in mercury levels.
As per news sources, export demand from Bangladesh, Malaysia is good which is supporting the prices. As per market sources, fresh crop arrivals are likely to remain till early May.
According to derivative analysis, prices and volumes have shown a negative move while open interest is rising. It is a good indication that a sharp rally against downtrend will develop creating a sell point for downtrend.
Courtesy: Karvy Commtrade Ltd.
(Source: http://www.commodityonline.com/futures-trading/technical/Chilli-drops-on-profit-selling-23388.html)
Monday, April 25, 2011
Chilli surges on extended buying
The Chilli futures traded on positive note on Saturday. Futures started the day on positive note on continued buying. Reports of rains in Guntur region further added to the upside and futures ended the day with gains of more then 3%.
Outlook 
Chilli June futures are projected to trade on positive note on follow though buying on Monday. Good buying from stokiest at spot market is likely to support the upside. However, prices are vulnerable to decent corrections on profit selling later in the day.
Arrivals at spot market of Guntur were reported around 80,000-1,00,000 bags today (Each bag= 40Kg.). Spot market of Guntur will be closed from May, 20th for a month due to rise in mercury levels.
As per news sources, export demand from Bangladesh, Malaysia is good which is supporting the prices. As per market sources, fresh crop arrivals are likely to remain till early May.
According to derivative analysis, prices and volumes are rising while open interest is falling. Market has a lot of traders initiating from both sides but larger traders may be liquidating into the higher prices.
The market may be vulnerable to large price swings as shorter time frame traders attempt to trade from both sides of the market but liquidating before end of day.
Courtesy: Karvy Commtrade Ltd.
(Source: http://www.commodityonline.com/futures-trading/technical/Chilli-surges-on-extended-buying-23366.html)
Saturday, April 23, 2011
Spices Weekly Update: Pepper And Chilli Surges Sturdily On Supply Qualms
Strong buoyancy intensified in spices complex during the weak as vanishing supplies in major producing states against strong demand propelled the gains of over 4% in all the major spices.
Pepper futures have reported the gains of over Rs. 1000 per quintal last week in the wake of weak supplies in domestic market due to poor production in the current year. This has also routed the international buyers towards Vietnam market. Vietnam has shipped almost 23 per cent of their fresh crop, signaling some interesting developments in the global black pepper mart. The country, which is estimated to have a crop size of 110,000 tonnes this season, has already exported 25,000 tonnes according to the latest estimates available. The NCDEX May pepper settled at Rs. 27938 per quintal , gained almost Rs. 1008 per quintal last week.
Similar trend was also seen in Chilli market as restricted supplies in major mandies against strong stockiest and exporters demand added the gains of over Rs. 600 per quintal in chilli futures. As per our crop estimates, the total chilli production of the current year (2010-11 ) is likely at 250 lakh bags ( 1 bag = 40 kgs ) against 300 lakh bags reported last year , down almost 16%.The total production of Andhra Pradesh , a major chilli producing state is estimated at 120-123 lakh bags against 155-160 lakh bags reported last year. The NCDEX June Chilli futures settled at Rs. 10900 per quintal, gained almost Rs. 810 per quintal last week.
Black pepper, red chilli up
NEW DELHI, APR 23:
Black pepper and red chilli prices spurted by up to Rs 700 per quintal in the national capital on Saturday due to tight supply from producing belts amid brisk buying by stockists and exporters.
Low stocks in the markets and a firming trend in futures trade also supported the rise in prices.
Black pepper prices jumped by Rs 700 to settle at Rs 27,200—27,400 per quintal on increased demand from local and exporters.
Red chilli prices also traded higher at Rs 7,000—13,800 against previous closing of Rs 6,800—13,500 per quintal on the heels of restricted supplies in major mandis, against strong stockiest and exporters demand.
Market analysts said increased buying by stockists and exporters against tight supply from producing belts mainly pushed up pepper and chilli prices in the wholesale market here.
Following are today’s quotations in Rs per quintal:
Ajwain 17,000—23,000, black pepper common 27,200—27,400, betelnut (kg) 110—120, cardamom brown—Jhundiwali (kg) 1,020—1,040, and cardamom brown—Kanchicut (kg) 1,150—1,300.
Cardamom small (kg): Chitridar 870—930, cardamom (colour robin) 920—940, cardamom bold 930—950, cardamom extra (bold) 1,110—1,130 and cloves (kg) 520—570.
(Source: http://www.thehindubusinessline.com/markets/commodities/article1758052.ece)
Thursday, April 21, 2011
Chilli regains on fresh buying
The Chilli futures traded on positive note on Wednesday. Futures started the day on positive note on fresh buying in far month contracts amid April contract expiry.
Decline in arrivals at spot market of Guntur supported the upside in prices and futures ended the day with gains of more then 3.5%.
Outlook
Chilli June futures are projected to trade on positive note on follow though buying on Thursday. Arrivals at spot market of Unjha are continuously declining which might support the prices to trade higher.
Arrivals at spot market of Guntur were reported around 40,000-50,000 bags today (Each bag= 40Kg.). Spot market of Guntur will be closed from May, 20th for a month due to rise in mercury levels.
As per news sources, export demand from Bangladesh, Malaysia is good which is supporting the prices.
According to traders, around 40 lakh bags have arrived till now and further 30-40 lakh bags might come till May. As per market sources, fresh crop arrivals are likely to remain till early May.
According to derivative analysis, over the period of time prices and open interest are rising while volumes are falling.
Market is attracting late buyers & early shorts; market is vulnerable to a sharp correction but likely that correction will be bought creating a buy point for uptrend.
Courtesy: Karvy Commtrade Ltd.
(Source: http://www.commodityonline.com/futures-trading/technical/Chilli-regains-on-fresh-buying-23329.html)
Monday, April 18, 2011
Chilli plunges on active selling
The Chilli futures extended the bearish trend on active selling on Friday. Futures started the day on negative note continuing the losses on heavy selling pressure.
However, prices showed small recovery on short covering at but failed to sustain the gains and futures ended the day on negative note.
Outlook
Chilli June futures are projected to trade slightly down to flat in initial hours on Monday. Continued selling at previous huge gains is expected to be seen at futures today. However, exports to Sri Lanka and Bangladesh are quite good which might limit the losses.
Arrivals at spot market of Guntur were reported around 60,000-80,000 bags (Each bag= 40Kg.). Spot market of Guntur will be closed in May for a month due to rise in mercury levels.
As per news sources, export demand from Bangladesh, Malaysia is good which is supporting the prices.
According to traders, around 40 lakh bags have arrived till now and further 30-40 lakh bags might come till May. As per market sources, fresh crop arrivals are likely to remain till early May.
According to derivative analysis, prices are falling while volumes and open interest rising. If prices are in a downtrend and open interest is on the rise, chartists know that new money is coming into the market, showing aggressive new short selling. This scenario will prove out a continuation of a downtrend and a bearish condition.
Courtesy: Karvy Commtrade Ltd.
(Source: http://www.commodityonline.com/futures-trading/technical/Chilli-plunges-on-active-selling-23240.html)
Monday, April 11, 2011
Chilli likely to move further higher
Chillis prices gained today due to lower arrival pressure, highest demand and short covering.
Export demand in coming days is likely to enhance which may further push up the prices.
Total arrivals of red chilli in the Guntur mandi at 60,000 bags (40,000 bags Khammam Teja).
BUY NCDEX CHILLI (JUNE) ABOVE 9944 SL 9854 TGT 10100
R1 10120 R2 10240 S1 9810 S2 9730.
Courtesy: Anagram Comtrade Limited
Chilli settles higher on weak arrivals
Chilli prices surged on improve in demand as well as decline in arrivals. Spot prices traded near Rs 8300 range and fresh arrivals were noticed around 60000 bags compared with 90000 bags in the previous day.
Rains in December end had badly affected the quality of crop output. As per market sources, production in 2010-11 were expected near one million tons which is 16 percent lesser than last year production.
Attention of farmers to highly rewarding crop like turmeric and cotton and erratic weather condition during the sowing period had considerably reduced the area under cultivation.
Courtesy: Geojit Comtrade Limited
(Source: http://www.commodityonline.com/futures-trading/tradingtips/Chilli-settles-higher-on-weak-arrivals-12446.html)
Thursday, April 7, 2011
Chilli surges on fresh buying
Rains in December end had badly affected the quality of crop output. As per market sources, production in 2010-11 were expected near one million tons which is 16 percent lesser than last year production.
Attention of farmers to highly rewarding crop like turmeric and cotton and erratic weather condition during the sowing period had considerably reduced the area under cultivation.
(Source: http://www.commodityonline.com/futures-trading/tradingtips/Chilli-surges-on-fresh-buying-12407.html)
Chilli futures up on firm spot demand
NEW DELHI, APRIL 7:
Chilli rose Rs 126 to Rs 9,608 per quintal at the futures trading today on good demand in the spot market.
At the National Commodity and Derivatives Exchange, chilli for delivery in June rose Rs 126 or 1.33 per cent to Rs 9,608 per quintal with an open interest of 9,810 lots. Likewise, April contract gained Rs 78 or 0.88 per cent to Rs 8,952 per quintal with a business volume of 6,995 lots.
Analysts said enlarging of positions by traders, driven by good demand at the spot market, mainly led to rise in chilli futures prices
(Source: http://www.thehindubusinessline.com/markets/commodities/article1608074.ece)
Tuesday, April 5, 2011
Chilli tumbles on short selling
The Chilli futures traded on negative note on selling at higher levels on Monday. Prices started the day on positive note on follow through buying.
However, active selling on gains pull down the prices and futures witnessed heavy fall giving negative closing.
Outlook
The Chilli April futures are projected to continue the bearish trend on profit selling. However, fresh buying at lower levels is expected to support the prices at lower levels which might limit the gains.
Spot market of Guntur will resume its activity from April 6th onwards.
As per news sources, export demand from Bangladesh, Malaysia is good which is supporting the prices. According to traders, around 40 lakh bags have arrived till now and further 30-40 lakh bags might come till May.
They are expecting arrivals might remain till early May after that market will be closed for 1 month.
According to derivative analysis, prices and open interest have declined while volumes have risen substantially. It indicates market is vulnerable to a sharp correction but likely that that correction will be bought creating a buy point for uptrend.
(Source: http://www.commodityonline.com/futures-trading/technical/Chilli-tumbles-on-short-selling-23010.html)
Chilli trades up on firm domestic demand
Chilli prices edged higher on short covering. However higher arrivals in the physical market limited the upside.
Rains in December end had badly affected the quality of crop output. As per market sources, production in 2010-11 were expected near one million tons which is 16 percent lesser than last year production.
Attention of farmers to highly rewarding crop like turmeric and cotton and erratic weather condition during the sowing period had considerably reduced the area under cultivation.
Monday, April 4, 2011
Chilli trades up on firm domestic demand
Chilli prices edged higher on short covering. However higher arrivals in the physical market limited the upside.
Rains in December end had badly affected the quality of crop output. As per market sources, production in 2010-11 were expected near one million tons which is 16 percent lesser than last year production.
Attention of farmers to highly rewarding crop like turmeric and cotton and erratic weather condition during the sowing period had considerably reduced the area under cultivation.
Chilli gains on active buying
The Chilli futures continued the positive trend on strong buying interest on Saturday. Prices started the day on higher note on follow through buying.
However, prices took decent corrections on profit selling at gains but overall positive sentiments push the prices and futures ended the day in green.
Outlook
The Chilli April futures are projected to witness sharp corrections during early hours on active profit selling. However, fresh buying at lower levels is expected to support the prices at lower levels limit the gains. Export demand from Bangladesh and Sri Lanka are likely to support the prices.
Spot market of Guntur will resume its activity from April 6th onwards.As per news sources, export demand from Bangladesh, Malaysia is good which is supporting the prices.
According to traders, around 40 lakh bags have arrived till now and further 30-40 lakh bags might come till May.
They are expecting arrivals might remain till early May after that market will be closed for 1 month.
According to derivative analysis, prices and open interest are rising while volumes are declining. Market is attracting late buyers & early shorts; market is vulnerable to a sharp correction but likely that that correction will be bought creating a buy point for uptrend.
(Source: http://www.commodityonline.com/futures-trading/technical/Chilli-gains-on-active-buying-22980.html)
Friday, April 1, 2011
Red Chilli Gains More Than Rs. 220 On NCDEX
Red spice gained sharply in the early trading session in the commodity exchanges on fresh buying triggered by growth in the export demand and projected lower crop.
The benchmark April contract on NCDEX surged by Rs. 224 or 2.62% to the session high of Rs. 8776 per 100 kg. The open interest added 0.93% to 7020 tonnes, indicating fresh buying.
Exports of spices and spices products from India have registered an increase of four per cent in volume and 19 per cent in terms of value during April-February 2010-11. In dollar terms the rise in exports is 24 per cent.
Exports of chilli, ginger, fennel, garlic and other spices such as asafoetida, tamarind etc. have shown an increase both in volume and value during April- Feb 2010-11 as compared to April-February 2009-10.
During April-February 2010-11, a total quantity of 2,18,500 tonnes of chilli valued Rs.1379.52 crores have been exported as against 1,80,750 tonnes valued Rs. 1156.57 crores of last year, registering an increase of 21 per cent in quantity and 19 per cent in value.
Chilli (Capsicum annuum) was introduced in the Indian sub-continent in the 16th century and has become an integral part of Indian culture and cuisine. Reported to have originated in South America, it is widely distributed in all tropical and sub tropical countries of the world.
World trade of chilies stands at approximately 0.5 mt with an approximate value of $990 million. The US is the leading chilli importer accounting for nearly 20 per cent of the world imports followed by Malaysia (10 per cent) and Mexico (nine per cent). Top chilli exporting countries of the world are India (37 per cent), China (25 per cent) and Peru (11.5 per cent). Chilli contributes to about 40 per cent of total spice exports from the country.
As per market sources, the total chilli production of the current year (2010-11) is likely at 250 lakh bags (1 bag = 40 kgs), down 16% from the last year. This was mainly due to unseasonal rainfall during the crop formation period in major chilli producing states such as Andhra Pradesh and Maharashtra.
Chilli is extensively used as spice in curries and as an ingredient in powder form for seasonings. Besides being used as natural colourant, it also has a tonic and carminative action. As a medicine, it is used as a counter irritant in Lumbago, Neuralgia, and rheumatic disorders. The enzyme isolated from chilli is used in the treatment of certain type of cancers. Oleoresin extracted from chilli is used in pain balms and vapour rubs.
(Source: http://www.indiainfoline.com/Markets/News/Red-Chilli-Gains-More-Than-Rs-220-On-NCDEX/3630785774)
