Weekly Market Report: Dry Fruits

Dry Fruits: Wholesale dry fruit prices surged in the national capital during the past week largely on fresh buying by stockists and retailers to meet the rising demand, triggered by ongoing marriage season. Further, tight stocks following restricted arrivals from producing regions and overseas market also influenced the prices.

Almond (California) prices rose by Rs 600 to Rs 10,300 per 40 kg, while its kernel moved to Rs 370-375 from previous closing of Rs 340-345 per kg. Almond gurbandi rose by Rs 100 to finish at Rs 5,000-5,300 per 40 kg.

Cashew kernel No 180, No 210, No 240 and No 320 rose by up to Rs 10 to settle at Rs 625-635, Rs 580-585, Rs 515-520 and Rs 445-470 per kg, respectively. Kishmish Kandhari local surged by Rs 500 to close at Rs 10,000-10,500 per 40 kg.

On the other hand, copra prices dropped by Rs 100 to settle at Rs 7,600-7,800 per quintal. aPistachio hairati and peshawari prices also fell by up to Rs 20 per kg to settle at Rs 950-1,000 and Rs 1,200-1,225 per kg, respectively.

Kirana: The slide in spices' prices continued in the national capital during the past week due to mounting stocks following arrivals of new season crop amid poor demand. Black pepper tumbled by Rs 800 to Rs 27,800-27,900 per quintal following reports of subdued export and domestic demand.  

Cardamom brown jundiwali and kanchicut prices traded lower at Rs 920-980 and Rs 1,050-1,150 against previous week's closing of Rs 980-1,000 and Rs 1,100-1,250 per kg, respectively. Cardamom small varieties such as chitridar, robin, bold and extra bold fell by up to Rs 70 to Rs 650-700, Rs 640-700, Rs 680-710 and Rs 920-1,000 per kg, respectively.

Chirounji dropped by Rs 20 to Rs 450-500 per kg. Dry ginger (superior quality) declined by Rs 1,000 to Rs 17,000-21,500 per quintal.  

Kalaunji prices declined by Rs 500 to finish at Rs 9,000-10,000 per quintal. Red chilli fell by Rs 200 to Rs 8,800-12,800 per quintal on reduced off-take. Jeera common and jeera best quality prices also eased by Rs 400 each to Rs 14,300-14,600 and Rs 16,500-16,600 per quintal, respectively, following weak advices from Unjha in Gujarat, coupled with sluggish offtake.

Bullion: Both the precious metals, silver and gold surged in the national capital during the past week on brisk buying by stockists and speculators sparked by a strong rally in the global markets.

Trading sentiments turned bullish as gold rose to a three-week high at $1,539.50 an ounce in the global markets, the highest since May 4, as the dollar's slump spurred the demand for the precious metals. Besides, seasonal buying for the ongoing marriage season further supported the uptrend.

Silver ready, after a weak start met with brisk buying from stockists and speculators on the back of rising trend in overseas, surged by Rs 4,300 to Rs 57,600 per kg. Silver weekly-based delivery followed suit and spurted by Rs 3,985 to Rs 57,585 per kg.

Silver coins also recorded a hefty jump of Rs 6,000 to Rs 66,000 for buying and Rs 67,000 for selling of 100 pieces.  

In line with a general firming trend, the gold of 99.9 and 99.5% purity flared up by Rs 195 each to Rs 22,865 and Rs 22,745 per 10 grams, respectively. Sovereigns also rose by Rs 100 to Rs 18,700 per piece of eight grams.