OfBusiness Spices Dailies | 7th July 2023

Price

• Guntur market prices remain steady, with Teja reporting a morning market price of Rs.245 for deluxe quality.
• Bidding for 5531 is taking place within the range of Rs. 215-220 per kilogram, depending on the quality and grading
• In the morning market, bidding for 341 is stable at Rs. 235/kg, while bidding for 334 is stable at Rs. 240/kg with good demand for export orders.
• Khammam market prices remain steady with no price changes. Janda Paata closed at Rs. 246/kg this morning, and the price remains stable.
• In Warangal market, bidding for 341 cold storages has reached Rs. 230/kg, while Teja is being sold at Rs. 241/kg for cold stocks.
• Prices in the Unjha market continue to rise steadily. Yesterday, the market closed at Rs. 660/kg, reaching a previous high price. It indicates a positive trend in cumin prices, with ongoing fluctuations.
• The fennel market fluctuated as usual, but overall prices rose along with cumin. The market closed at Rs. 325/kg.
• The market trend for dill seed/ajwain prices is increasing, with a closing bid of Rs. 212/kg yesterday. Similarly, ajwain prices were bid on in large quantities along with other commodities, closing at Rs. 191/kg in yesterday’s market

Demand and Supply

• The market remains steady and consistent across all regions, with all varieties maintaining stability in recent days. Today’s combined arrivals of both AC and non-AC bags are approximately 65,000. Non-AC arrivals alone have reached around 11,000 bags. However, due to it being the weekend, the market has seen slightly lower arrival numbers as expected while khammam received nearly 3000 bags.
• Guntur’s weekend market experiences lower prices and weak sales due to poor quality arrivals, resulting in a thin market compared to other days.

News

• The weather in Guntur has remained unchanged since yesterday.
• Once Bangladesh ramps up its exports, the price of chillies in the market is expected to receive a significant boost due to high demand. Increased demand from Bangladesh will result in heightened competition among traders, particularly for teja, leading to higher bidding.
• Cumin stocks in the country are decreasing, and international cumin production has also decreased. As a result, the price of cumin is increasing. Today, cumin has been priced at 57,000 rupees per quintal.

OFB’s Opinion

• It is evident that prices in all markets are currently remaining stable, with the exception of Teja, which experienced a deviation of Rs.2 but it is anticipated that prices will return to normal in the Monday market.
• It is advisable to expect overall market stability in the upcoming days, although it’s worth noting that heavy rains in the coming days could potentially impact the market.