MUMBAI (Commodity Online): India's spices for the of month of April (2nd to 27th April) traded on negative note. Chilli, coriander and cardamom fell by double digit figure, according to market review.
In India's National Commodity and Derivatives Exchange (NCDEX), for June delivery during 2nd April to 27th April, Chilli traded down 17.26% to Rs 4840 per qtl, coriander down 16.63% to Rs 3814, jeera down 2.12% to Rs 12, 312.50, pepper fell 3.37% to Rs 38,950 and turmeric down 14.58% to Rs 3666 per qtl.
And in India's Multi Commodity Exchange (MCX), cardamom for June delivery traded down 16.98% to Rs 1145.60 per qtl during the period.
India's Forward Market Commission (FMC) levied 15% special margin on agri-commodities to avoid unwanted volatility in the exchange is also attributed for the price dip.
According reports, pepper prices fell on the domestic exchange due to lower export demand on increased production in Indonesia and Vietnam. The global pepper production in 2012 is expected to increase 7.2% to 3.20 lakh tons as compared to 2.98 lakh tons in 2011.
While, domestic consumption of Pepper in the world is expected to grow by 3.03% to 1.25 lakh tons which is far below the supply.
Jeera traded down slightly lower for the month on increased arrivals in the domestic market. Improved demand has saved the commodity further fall in prices.
Turmeric traded down on high production and low demand. The production for the year 2011-12 is projected at historical high of 82 lakh bags (1 bag= 70 kgs) compared to 69 lakh bags in 2010-11.
The cardamom prices are down desipte lower production on lacklustre domestic and international demand. The prices are likely rebound as the bad weather in major producing regions still persists and also the exports are likely pick up in coming months.
In NCDEX, for June Delivery, chilli traded up 0.5% to Rs 4842 per qtl, coriander traded up 0.29% to Rs 3825 per qtl, jeera down 0.2% to Rs 12252.5 per qtl, pepper traded up 0.87% to Rs 37525 per qtl and turmeric traded up 0.44% to Rs 3682 per qtl on 28th April at 12:15 IST.
And In MCX, Cardamom for June delivery traded down 2.435 to Rs 1117.80 per qtl on Saturday