Market Wrap For Daily Agri Commodity

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24-02-2011


MARKET WRAP

Turmeric gains on firm domestic demand
Jeera hits new contract high on output view
Pepper declines on selling pressure
Soy bean, soy oil drop 2% on global cues
Guar falls on profit taking
Chana down on increased arrivals
Mentha oil rises on short covering


Demand for Turmeric from the overseas and domestic has improved supporting prices to remain firm. Nizamabad market is likely to remain closed till Thursday due to Telangana Agitation. Heavy rains in Nizamabad region are further supporting the upside in prices. Jeera prices may trade bullish owing to rains in Rajasthan and reports of ground frost in Gujarat which might damage the standing crop. This will support prices to strengthen in the short term. Limited arrivals of Pepper are reporting at spot market of Kochi which might support the prices. As per trade sources, arrivals are not picking up from both India and Vietnam which is creating confusion among the investors. Lower quotes offered by Vietnam might weigh on prices in coming days. The arrivals come to an end across the spot markets of Chana in Maharashtra, Karnataka and Andhra Pradesh. The government is concerned about the food inflation levels and the budget session ahead is weighing on the market sentiments. The guar gum and seed prices are finding good buying support from the crude oil extracting countries across the globe.

 

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25-02-2011

MARKET WRAP

• Turmeric down on increased supply
• Jeera down on weak exports
• Pepper drops on subdued exports
• Soy bean, soy oil erase losses on crude rallyd
• Guar closed steady
• Chana down on increased arrivals, lower demand
• Mentha oil gains on weak arrivals

Demand for Turmeric from the overseas and domestic has improved supporting prices to remain firm. Nizamabad market is likely to remain closed till Thursday due to Telangana Agitation. Heavy rains in Nizamabad region are further supporting the upside in prices. Jeera prices may trade bullish owing to rains in Rajasthan and reports of ground frost in Gujarat which might damage the standing crop. This will support prices to strengthen in the short term. Limited arrivals of Pepper are reporting at spot market of Kochi which might support the prices. As per trade sources, arrivals are not picking up from both India and Vietnam which is creating confusion among the investors. Lower quotes offered by Vietnam might weigh on prices in coming days. The arrivals come to an end across the spot markets of Chana in Maharashtra, Karnataka and Andhra Pradesh. The government is concerned about the food inflation levels and the budget session ahead is weighing on the market sentiments. The guar gum and seed prices are finding good buying support from the crude oil extracting countries across the globe.

 

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26-02-2011

MARKET WRAP

• Turmeric down on increased supply
• Jeera hits contract high on output view
• Soy bean, soy oil rises on lower stocks
• Guar up on export demand
• Chana falls on increased supply
• April- Jan spices export up 5 %
• Mentha falls on short selling

Demand for Turmeric from the overseas and domestic has improved supporting prices to remain firm. Heavy rains in Nizamabad region are further supporting the upside in prices. Jeera prices may trade bullish owing to rains in Rajasthan and reports of ground frost in Gujarat which might damage the standing crop. This will support prices to strengthen in the short term. Limited arrivals of Pepper are reporting at spot market of Kochi which might support the prices. As per trade sources, arrivals are not picking up from both India and Vietnam which is creating confusion among the investors. Lower quotes offered by Vietnam might weigh on prices in coming days. The arrivals come to an end across the spot markets of Chana in Maharashtra, Karnataka and Andhra Pradesh. The government is concerned about the food inflation levels and the budget session ahead is weighing on the market sentiments. Cardamom futures continued to cascade on expectation surplus stocks with the growers. Decline in demand prospects also augmented the bearish sentiments.

 

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28-02-2011

MARKET WRAP

• Turmeric ends higher on local & export demand
• Jeera hits contract high on output view
• Pepper futures slips on weak exports
• Soy bean, soy oil edges up on low arrivals
• Guar gains on export demand & falling supply
• Chana falls on increased supply
• Mentha falls on short selling

Demand for Turmeric from the overseas and domestic has improved supporting prices to remain firm. Heavy rains in Nizamabad region are further supporting the upside in prices. Jeera prices may trade bullish owing to rains in Rajasthan and reports of ground frost in Gujarat which might damage the standing crop. This will support prices to strengthen in the short term. Limited arrivals of Pepper are reporting at spot market of Kochi which might support the prices. As per trade sources, arrivals are not picking up from both India and Vietnam which is creating confusion among the investors. Lower quotes offered by Vietnam might weigh on prices in coming days. The arrivals come to an end across the spot markets of Chana in Maharashtra, Karnataka and Andhra Pradesh. The government is concerned about the food inflation levels and the budget session ahead is weighing on the market sentiments. Cardamom futures continued to cascade on expectation surplus stocks with the growers. Decline in demand prospects also augmented the bearish sentiment

 

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01-03-2011



MARKET WRAP

• Turmeric falls on supply
• Jeera falls on poor exports
• Soy bean, soy oil drop on weak demand
• Guar falls on profit taking
• Chana falls on increased arrivals
• Cardamom gains on firm demand
• Mentha oil rises on short covering

Demand for Turmeric from the overseas and domestic has improved supporting prices to remain firm. Heavy rains in Nizamabad region are further supporting the upside in prices. As per trade sources, prevailing cloudy weather conditions in Rajasthan and some parts of Gujarat is supporting the Jeera prices despite of poor export demand. Lower quotes of Pepper offered by Vietnam are pressurizing the prices amid weak export demand. However, limited arrivals are reporting at spot market of Kochi which might limit the losses. In Rajasthan the harvesting of Chana might start in ten days time. In the month ahead, the spot markets are expected to be flooded with the fresh crop arrivals. As per trade sources, Guatemala crop of Cardamom are available at much lower prices than Indian cardamom which weighing on market sentiments. We expect Guar prices to trade sideways to down due to decline in the overseas orders at higher rates and may trade in the range of Rs.2800 and Rs. 3050 per qtl. Strength in Crude oil Prices had also led to added to the bullish market sentiments in Guar.

 

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03-03-2011

Market Wrap For Daily Agri Commodity

• Turmeric up bargain buying
• Jeera falls on poor exports
• Pepper drops on weak exports
• Soy bean, soy oil drop on weak demand
• Guar up on falling supply
• Chana up on short covering
• Cardamom falls on profit booking

Demand for Turmeric from the overseas and domestic has improved supporting prices to remain firm. Heavy rains in Nizamabad region are further supporting the upside in prices. As per trade sources, prevailing cloudy weather conditions in Rajasthan and some parts of Gujarat is supporting the Jeera prices despite of poor export demand. Lower quotes of Pepper offered by Vietnam are pressurizing the prices amid weak export demand. However, limited arrivals are reporting at spot market of Kochi which might limit the losses. In Rajasthan the harvesting of Chana might start in ten days time. In the month ahead, the spot markets are expected to be flooded with the fresh crop arrivals. As per trade sources, Guatemala crop of Cardamom are available at much lower prices than Indian cardamom which weighing on market sentiments. We expect Guar prices to trade sideways to down due to decline in the overseas orders at higher rates and may trade in the range of Rs.2800 and Rs. 3050 per qtl. Strength in Crude oil Prices had also led to added to the bullish market sentiments in Guar

 

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04-03-2011

Market Wrap For Daily Agri Commodity

• India food inflation eases, but rate rise seen
• Jeera falls on fresh arrivals
• Pepper gains on short covering
• Soy bean, soy oil seen extending gains
• Guar plunges on weak exports
• Chana up on short covering
• Cardamom weakens on active selling

As per the trade sources, prevailing cloudy weather conditions in Rajasthan and some parts of Gujarat is supporting the Jeera prices despite of poor export demand. Lower quotes of Pepper offered by Vietnam are pressurizing the prices amid weak export demand. However, limited arrivals are reporting at spot market of Kochi which might limit the losses. In Rajasthan the harvesting of Chana might start in ten days time. In the month ahead, the spot markets are expected to be flooded with the fresh crop arrivals. Traders are not interested in bulk buying as they are anticipating that growers are still holding the good quantity of cardamom produce. Poor domestic and export demand might also weigh on prices. Thus, overall sentiments are bearish but short covering on losses can’t be over ruled. We expect Guar prices to trade sideways to down due to decline in the overseas orders at higher rates and may trade in the range of Rs.2800 and Rs. 3050 per quintal. Strength in Crude oil Prices had also led to added to the bullish market sentiments in Guar

 

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05-03-2011


MARKET WRAP

• Turmeric trades up firm overseas demand
• Jeera trades up on weak arrivals
• Pepper gains on short covering
• Soy bean, soy oil gains on strong demand
• Guar tumbles on subdued demand
• Chana tumbles on production estimates
• Cardamom rises on bargain buying

The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries have been there. The coming week trend would depend on the crop arrivals in Vietnam and its effect on the Indian exports. In India, soybean crushing is going on resulting in the more availability of soy oil to the domestic markets. The coming month could witness further rise in Guar rates as traders expect exports to rise supported by expected rise in Crude Oil prices, which could enhance the exports from here. Weak trend in other Pulses is expected to have bearish impact on Chana rates in the coming weeks.

 

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07-03-2011



MARKET WRAP

• Turmeric futures end up on demand
• Jeera plunges on fresh arrivals
• Pepper falls on profit booking
• Soy bean, soy oil end up on global cues
• Guar drops on sluggish demand
• Chana falls on arrivals
• Cardamom rises on bargain buying

The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries have been there. The coming week trend would depend on the crop arrivals in Vietnam and its effect on the Indian exports. In India, soybean crushing is going on resulting in the more availability of soy oil to the domestic markets. The coming month could witness further rise in Guar rates as traders expect exports to rise supported by expected rise in Crude Oil prices, which could enhance the exports from here. Weak trend in other Pulses is expected to have bearish impact on Chana rates in the coming weeks.

 

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08-03-2011


MARKET WRAP

• Turmeric gains on speculative buying
• Jeera tumbles on active selling
• Pepper extend losses
• Soy bean, soy oil drop on rapeseed arrivals
• Guar futures down on weak export demand
• Chana up on short covering
• Cardamom plunges on weak demand

The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries have been there. The coming week trend would depend on the crop arrivals in Vietnam and its effect on the Indian exports. Indian market participants are waiting for release of February month edible oil import data, which is likely to be released in this week. The arrivals of Guar have come to an end across the spot markets which have resulted in subdued spot activities. The predictions of the normal monsoon are weighing on the market sentiments. Weak trend in other Pulses is expected to have bearish impact on Chana rates in the coming weeks.

 

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09-03-2011



MARKET WRAP

• Turmeric surges on firm demand
• Jeera up on short covering
• Pepper up on short covering
• Soy bean, soy oil extend losses on global cues
• Chana falls on increased arrivals
• Potato surges on weak arrivals
• Cardamom gains on fresh buying

The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries have been there. The trend would depend on the crop arrivals of Pepper in Vietnam and its effect on the Indian exports. Indian market participants are waiting for release of February month edible oil import data, which is likely to be released in this week. The arrivals of Guar have come to an end across the spot markets which have resulted in subdued spot activities. The predictions of the normal monsoon are weighing on the market sentiments. Weak trend in other Pulses is expected to have bearish impact on Chana rates in the coming weeks.

 

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10-03-2011



MARKET WRAP

• Turmeric rises on extend buying
• Jeera slumps on fresh arrivals
• Pepper up on short covering
• Soy bean, soy oil rise on bargain buying
• Chana up on short covering
• Potato surges on weak arrivals
• Cardamom gains on fresh buying

The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries have been there. The trend would depend on the crop arrivals of Pepper in Vietnam and its effect on the Indian exports. Market is waiting for release of February month edible oil import data, which is likely to be released next week. Physical markets are witnessing subdued trading on poor demand and higher supply of the oil. The arrivals of Guar have come to an end across the spot markets which have resulted in subdued spot activities. The predictions of the normal monsoon are weighing on the market sentiments.

 

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11-03-2011

Market Wrap For Agri Commodity

• Spices fell on rising supply & weak exports
• Turmeric falls on profit booking
• Jeera slumps on fresh arrivals
• Pepper regains on short covering
• Soy bean, soy oil falls over 2%
• Chana moves up on short covering
• Guar falls on profit taking

The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demands from South-East Asian countries have been there. The trend would depend on the crop arrivals of Pepper in Vietnam and its effect on the Indian exports. Market is waiting for release of February month edible oil import data, which is likely to be released next week. Physical markets are witnessing subdued trading on poor demand and higher supply of the oil. The exporters were interest-ed in buying gum to fulfill their consignments while the availability of the same is lower. This artificial supply crunch created for guar gum is expected to support the prices.

 

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12-03-2011

MARKET WRAP

• Spices fell on rising supply & weak exports
• Turmeric continues bearish trend on short selling
• Jeera falls on supply
• Pepper falls on profit booking & bearish outlook
• Soy bean, soy oil falls over 2%
• Chana drops on selling pressure
• Guar drops on fresh arrivals

The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries has been there. The trend would depend on the crop arrivals of Pepper in Vietnam and its effect on the Indian exports. Market is waiting for release of February month edible oil import data, which is likely to be released next week. Physical markets are witnessing subdued trading on poor demand and higher supply of the oil. The exporters were interested in buying gum to fulfill their consignments while the availability of the same is lower. This artificial supply crunch created for guar gum is expected to support the prices

 

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14-03-2011


MARKET WRAP

• Spices fell on rising supply & weak exports
• Turmeric rises on short covering
• Jeera drops on mounting supplies, weak exports
• Pepper futures drop on poor exports
• Soy bean, soy oil drops on global cues
• Chana drops on arrivals
• Guar futures fall on profit taking

The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries has been there. The trend would depend on the crop arrivals of Pepper in Vietnam and its effect on the Indian exports. Oilseeds complex are expected to trade lower due to higher production estimates of soybean in Brazil and China due to favorable weather condition for crop. Higher production estimates of domestic RM Seed this year as compared to last year may pressurize the prices. Guar futures in the medium term would be dependent on the overseas demand scenario.

 

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15-03-2011

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MARKET WRAP FOR AGRI COMMODITY


• Turmeric falls on profit booking
• Jeera falls on fresh supply
• Pepper down on weak exports
• Soy bean, soy oil fall tracking global leads
• Chana up on short covering
• Guar up on demand
• Cardamom falls on subdued overseas demand


The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries have been there. The trend would depend on the crop arrivals of Pepper in Vietnam and its effect on the Indian exports. Oilseeds complex are expected to trade lower due to higher production estimates of soybean in Brazil and China due to favorable weather condition for crop. Higher production estimates of domestic RM Seed this year as compared to last year may pressurize the prices. Guar futures in the medium term would be dependent on the overseas demand scenario.

 

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16-03-2011


MARKET WRAP FOR AGRI COMMODITY


• Turmeric falls on profit booking
• Jeera bounds on tight arrivals
• Pepper gains on bargain buying
• Soy bean, soy oil recovers on short covering
• Chana declines on fresh arrivals
• Guar rises on short covering
• Cardamom plunges on active selling


The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries has been there. The trend would depend on the crop arrivals of Pepper in Vietnam and its effect on the Indian exports. Edible oil imports in the month of February and March are likely to be higher because of decline in international price. Higher supplies and sluggish demand is likely to keep the prices under pressure. Indian market is likely to move in line with weak overseas market. Higher production estimates of RM Seed this year as compared to last year may pressurize the prices. Guar would be dependent on the overseas demand scenario.

 

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17-03-2011


MARKET WRAP FOR AGRI COMMODITY


• Turmeric rises on short covering
• Jeera up on bargain buying
• Pepper up on weak supply
• Soy bean, soy oil hit contract low
• Chana up on short covering
• Guar trades up on weak arrivals
• Cardamom trades up on extended buying


Ongoing issues in global market, geo-political tension in Middle East & North Africa and Japan tsunami, have been putting pressure on global commodity market. Global traders are selling futures anticipating decline in demand for the produce in the short term. The turmeric price trend in the short term is likely to depend on the arrivals and demand from the overseas and domestic buyers. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Prices quoted by India for Pepper in international market moved up to $5050 per ton which is very much in order with the prices quoted in other origins. Therefore, few export inquires can be expected in coming days. Domestic traders and investors are likely to sell Refined Oil futures anticipating shrink in the demand for oil with the progress of summer season. Higher production estimates of RM Seed this year as compared to last year may pressurize the prices. Guar futures would be dependent on the overseas demand scenario.

 

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18-03-2011


MARKET WRAP FOR AGRI COMMODITY

• Turmeric falls on short covering
• Jeera up on bargain buying
• Pepper continue uptrend on firm demand
• Soy bean, soy oil gains on strong demand
• Chana rises on seasonal demand
• Guar zooms on weak arrivals
• Cardamom trades up on active buying

The turmeric price trend in the short term is likely to depend on the arrivals and demand from the overseas and domestic buyers. Jeera prices in the intraday may trade sideways owing to demand from the local stockists and expectation of better arrivals in the market. Any recovery in demand from the overseas buyers however will support Jeera prices in the short term. Prices quoted by India for Pepper in international market moved up to $5050 per ton which is very much in order with the prices quoted in other origins. Therefore, few export inquires can be expected in coming days. Domestic traders and investors are likely to sell Refined Oil futures anticipating shrink in the demand for oil with the progress of summer season. Higher production estimates of RM Seed this year as compared to last year may pressurize the prices. Guar futures would be dependent on the overseas demand scenario. Notwithstanding expected bumper production of pulses during 2011-12, India would require to import 3.40 million tonne of the Chana to match the enhanced demand

 

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19-03-2011

MARKET WRAP FOR AGRI COMMODITY


• India spices fall on weak domestic, export demand

• Turmeric falls on higher arrivals

• Jeera slumps on higher arrivals

• Pepper gains on domestic demand

• Soy bean, soy oil futures up on global cues & demand

• Chana drops on fresh arrivals

• Guar remains steady

The turmeric price trend in the short term is likely to depend on the arrivals and demand from the overseas and domestic buyers. Jeera prices in the intraday may trade sideways owing to demand from the local stockists and expectation of better arrivals in the market. Any recovery in demand from the overseas buyers however will support Jeera prices in the short term. Prices quoted by India for Pepper in international market moved up to $5050 per ton which is very much in order with the prices quoted in other origins. Therefore, few export inquires can be expected in coming days. Domestic traders and investors are likely to sell Refined Oil futures anticipating shrink in the demand for oil with the progress of summer season. Higher production estimates of RM Seed this year as compared to last year may pressurize the prices. Guar futures would be dependent on the overseas demand scenario. Notwithstanding expected bumper production of pulses during 2011-12, India would require to import 3.40 million tonne of the Chana to match the enhanced demand.