Commodities

Cardamom, pepper futures decline

C. J. Punnathara Kochi | Updated on April 12, 2012 Published on April 12, 2012

cardamom

Cardamom prices were down at the futures market today.

There are reports that hot and dry climatic conditions in major growing areas in Idukki district have affected the crop; thereby the next crop is expected to decline.

Meanwhile, some growing areas in Thodupuzha and Peerumedu had received good summer showers during last week.

Pepper

Pepper futures declined on rumours that the Government has decided to ban futures trade in some farm commodities.

Along with weak demand, the imposition of special margins on long positions also weighed on the sentiment.

Reports that the crop from Vietnam has taken a toll on Indian exports also affected the futures market. Meanwhile, the arrivals in major spot market continued to remain thin at around four tonnes.

Jeera

Jeera futures tended down due to ample supply in spot market and slack demand.

Jeera arrivals in Unjha were around 40,000 bags (1 bag = 55 kg). These arrivals include 15,000 bags from Rajasthan. The spot price stood steady at Rs 12,700 per 100 kg.

However, expectations of a rise in export demand may limit a sharp fall in prices in the medium term. Also, the probability of a fall in jeera crop from Syria and Turkey might add support to the price uptrend, a report from Geojit Comtrade said.

Chilli

Chilli prices are expected to fall on high stocks in the spot market and subdued domestic demand. Expectations of high output for the current season may also weigh on prices, Geojit Comtrade said.

cj@thehindu.co.in

Published on April 12, 2012
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