Market pulse for agro commodities : Mangal Keshav

Chilli market at Guntur was closed for summer vacation & is expected to re-open only in June.

Arrivals of jeera crop were steady ~15,000 bags & the same were traded at auctions held at Unjha market. Spot rates were up & quoted around Rs 124-Rs 125 per kg while exchange crop was offered at Rs 132-Rs 133 per kg, as per local traders.

Spot rates of pepper garbled declined to Rs 356 per kg and that of un-garbled was down at Rs 341 per kg while arrivals declined to 38 tons & trades too were down at 40 tons at auctions held at Kochi market, as per IPSTA.

Arrivals of turmeric crop increased to 6,500- 7,000 bags at Nizamabad market, up more than 5,000 bags at mandis of Erode, but declined to 3,000 bags at sangli market. Spot rates too were largely unchanged, across major trading centers.

Average price of small cardamom declined to Rs 526.3 per kg while maximum price offered was down at Rs 742 per kg, as per spice board. Total inflow of small cardamom crop declined to 22.2 tons from which ~19.1 tons were sold at CPA auction held at Santhanpara.

Most of the mandis at MP market were closed on Monday, due to Parshuram Jyanti; however Indore market was open, where 800-1,000 bags were reported by local traders.

Also supply across mandis of Maharashtra & Rajasthan has increased to 18,000-20,000 bags each, as per trade reports.

Spot rates of soya bean crop offered by planters were up at Rs 40.5-Rs 41 per kg while rates across major mandis of Indore were up at Rs 39-Rs 39.5 per kg, as per local traders.

Guar seed arrivals increased to 6,555 quintals, while the average of the closing spot rates were down at Rs 8,487.3 per quintal.

Inflow of mustard seed crop increased to 69,051 quintals, while average of closing spot rates were up at Rs 3,012.3 per quintal, as per agriculture marketing board of Rajasthan. Total arrivals of mustard seed crop stood ~3lakh bags across major trading center while spot rates were quoted at Rs 33-Rs 35.5 per kg based on quality & location, as per market reports.

Chana futures recovered on buying support at lower levels; however trend still remains down due to increase in supply to ~50-55 truck while off-take remains steady local mandis. Spot rates were steady around Rs 33.5 per kg.

Spot rates of mentha oil were up by Rs 18-Rs 20 per kg while futures too gained more than 2% & closed above last week’s high. Prices were supported by increased buying interest at lower levels, after a steep sell-off since past 11-weeks.