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Turmeric

Turmeric trading range for the day is 8014-8314.

Turmeric recovered on some short covering after pressure seen as the production of turmeric is pegged at 11.76 lakh tonnes in 2021-22 against 11.24 lt in 2020-21.

New season turmeric are diminishing and exports demand is improving as season progresses.

In FY 2021/22 (Apr-Feb), exports down 20% at 1.37 lakh tons compared to last year but higher by 8.3% compared with 5-year average.

In Nizamabad, a major spot market in AP, the price ended at 8319.2 Rupees dropped -48.3 Rupees.

Jeera

Jeera trading range for the day is 21605-21965.

Jeera gained because of lower production of the spice in the country, partly because many farmers shifted to more lucrative commodities.

The low yield in India will affect the global prices as the country is the largest producer of jeera or cumin in the world.

Total cumin output is estimated to have declined about 35% year-on-year to 558 million tonnes in 2022.

In Unjha, a key spot market in Gujarat, jeera edged down by -77.8 Rupees to end at 21623.9 Rupees per 100 kg.

Dhaniya

Dhaniya trading range for the day is 11343-11635.

Dhaniya gained as steady exports and lower crop estimates have supported the markets.

As per govt data, coriander exports in Feb 2022 up 5.5% y/y at 3320 tonnes compared to 3150 tonnes last year

For FY 2021/22 (Apr-Feb) export volume is down by 13.7% at 44,450 tonnes Vs 51,500 tonnes last year but 11% higher compared to 5-year average.

In Kota spot market in Rajasthan the prices gained 103.95 Rupees to end at 11454.3 Rupees per 100 kg.

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