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Wednesday, June 23, 1999

Moderate trade dominates spices market 

Our Bureau  
Mumbai June 22: Spices witnessed slow and moderate trading at the Navi Mumbai market for the week ended June 18. Prices of most commodities stayed put, while turmeric and coriander dipped, black pepper and ginger advanced.

Turmeric: Slack export and local demand pushed down prices marginally over the previous week. In Sangli, prices edged down to Rs 2,900 (2,950) for spot and Rs 2,700/2,950 (2,800-3,100) for truckloads. In Mumbai Free-On-Lorry (FOL) prices for Nizamabad were Rs 2,875/2,900 (Rs 2,925), Rs 2,800-2,825 (Rs 2,800-2,850) for Cuddapah variety, Rs 2,900-2,950 (Rs 2,900-2,925) for Duggirala variety and Rs 3,050/3,150 (Rs 3,100/3,150) for the Sangli polished turmeric finger variety per quintal.

Corainder: Prices steadied at reduced levels. Since carrying over is burdensome, the prices are most likely to tend downwards in the long run. The Indore average was Rs 1,175/1,200 (Rs 1,200-1,225 while Kanpur average was Rs 1,300-1,325 (Rs 1,350-1,400). Machine cleaned (M/C) and washed KanpurRs 1,450-1650 (Rs 1,500-1,700 ) and M/C and washed Indore at Rs 1,300-1600 (Rs 1,300-1,600). The 100 per cent split M/C was easy at Rs 965-9,75 (Rs 985-1,000) per quintal.

Cumin: Prices steadied during the week. The one-per cent M/C for Singapore/Dubai quality was in a narrow band of Rs 1,175-1,200 , while for Europe it ruled at around Rs 1,275-1,300. The four-per cent M/C was around Rs 1,125-1,150 (Rs 1,120-1,130) per 20 kilograms FOL Mumbai. Syria has started harvesting and drought is likely to reduce it by 30 per cent. Even Iran has been apparently been even more affected by lack of rain. Turkey's outturn is not until August but planting is lower this year.

Fennel: Prices ruled steady. Dubai/Singapore quality was at Rs 825-850 (Rs 800-825) and for London/Europe quality at Rs 900-950 (Rs 900-950) per 20 kg at FOB Mumbai.

Fenugreek: Prices lifted on good export demand. Market ruled steady on a better note. Previous week's levels. The M/C best bold ruled at Rs 2,200/2,250 (Rs2,150-2,200), medium best machine cleaned at Rs 1,75/1,900 (Rs 1,825-1,850) and averaged Rs 1,825/1,850 (Rs 1,750-1,775). Dill seed: Prices were firm. The one-per cent M/C was steady at Rs Rs 4,000-4,050 (Rs 3,900-4,000) and 11 per cent FAQ slightly higher at Rs 3,600-3,650 (Rs 3,550-3,600). New crop was lifted at Rs 4,300-4,400 (Rs 4,300-4,400) per quintal FOL Mumbai.

Ajwain: Prices ruled firm. Jamnagar moved between Rs 6,000 and Rs 6,500 (Rs 6,000-6,500), MP superior was higher at Rs 6,200-6,500 and medium at Rs 5,700-5,800 (Rs 5,500-5,800) per quintal FOL Mumbai.

Chillies: Prices edged up on increase in demand. Chillies with stem spurted to Rs 3,450-3,550 (Rs 3,400-3,500) while chillies without stem ruled higher at Rs 4,500-4,600 (Rs 4,450-4,600) per quintal FOB Mumbai.

Tamarind: Prices declined as buyers kept away due to monsoon. Basket ruled at Rs 3,200-3,300 (Rs 3,400-3,500), slab at Rs 3,400-3,500 (Rs 3,600-3,700) while consumer packs were steady at Rs 3,700-3,800(Rs 3,800-3,950).

Black pepper: Prices edged down on rumour of Kargil crisis escalating into war. Cochin ready delivery, ungarbled loose ruled at Rs 188 (Rs 195) per kilogram. In the futures section, Cochin July delivery at Rs 198 (205) per kg FOB Cochin. The MG-1 FOB Cochin was Rs 202 (Rs 210) and FOL Mumbai Rs 200 (205) per kg.

Ginger: Prices ruled firm. NUGC good FOB Cochin was traded at Rs 87,000 (88,000) and FOL Mumbai at Rs 88,000 (87,000) per MT.

Sesame seeds: Prices hardened on increased buying interest. The 98x2 was quoted around Rs 3,300/3,350 (3,250-3,300), while 95x2 was Rs 3,150-3,200. Hulled traded at Rs 4,250-4,300 .

Peanuts: Prices increased on demand. Prices of 45/50 counts were Rs 2,450-2,500 (2,475-2,525 ), 50/60 counts at Rs (2,450-2,500 (2,300-2,350) and 60/70 counts at Rs 2,400-2,425 (2,200-2,250) and 70/80 counts at Rs 2,300-2,350 (Rs 2,100-2,150 ) and 80/90 counts at Rs 2,200-2,250 (Rs 2,000-2,050).

Copyright © 1999 Indian Express Newspapers(Bombay) Ltd.


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