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Market Recap

Jeera

* The benchmark contract was down 4.28 percent month on month but posted a noticeable pullback after testing the low of 18830. Month’s close was 20115 for the benchmark July contract. The market was under pressure amid steady pace of the newly harvested crop.

* The possibility of imports from the other leading producing nations of Turkey and Syria weighed over the market. As understood from trade talks, stockists will prefer initiating their bulk purchases if the spot offers stay above the Rs.18500/qtl level for the next few days or weeks.

Turmeric

* The downward continued in June amid lack of buying interest in the physical markets and improving production outlook. The June contract finished the month gaining 1.60 percent approximately. Limited query amongst exporters were also noted who preferred to wait for cheaper offers on the back of a subdued exports market.

* The expectations for 2025–26 are optimistic for the exports front, indication a likely jump of roughly 14%, totaling 3.5 Lakh metric tons approximately. In context to the crop scenario the sowing area in 2025 has seen a significant increase by approximately 21% year-on-year.

Dhaniya

* The markets stabilized from the bearish phase towards the latter part of June. The trading interest for the higher grades showed a improving trend due to favorable seed size, color, as well as the aroma. The lowering arrival pace supported the gains. The June contract finished the month with a moderate price appreciation of 2.83%.

Guar Seed/Guar gum

* The guar complex basket maintained the range bound trading activity and failed to sustain above the strong resistance points amid reports of a normal monsoon outlook for this year. NCDEX benchmark guar seed and guar gum futures ranged between Rs.5050-5250 and Rs.9350-9800 per quintal respectively.

* The physical market was more or less stable for most of the days with sellers not comfortable in selling their inventory on expectations of getting better prices in the next couple of months.

Cocud (Cotton Cake)

* Cotton cake maintained the upward trend and the month-on-month gain was 4.70 percent roughly. Buying activity improved at the major trading centers, and the arrival pace slowed further. The derivative has appreciated by nearly 7.50 percent in the last two months.

* The production outlook indicates a reduction in the crop size over the previous year, which prevented sellers/farmers to hold the stocks for a longer duration so as to scale up their profit margins.

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