India turmeric to remain lower on higher stocks, weak exports

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MUMBAI (Commodity Online): Turmeric futures expected to extend downtrend on Tuesday due to higher stocks from the fresh crop, weak export demand and on expectations of higher production in the next year.

In NCDEX turmeric December contract on Monday closed lower by 3.02 per cent to Rs.4614 per quintal against the previous close.Traders expect the trend to remain volatile in the short term as improved production prospects and higher stocks could keep the prices under check to some extent, according to analyst with Religare Commodities.
According to trade sources, farmers are having more than 13 lakh bags stocks with them and they are likely to dump it before arrival of fresh crop starts resulting in higher arrivals than normal. As per the trade sources the expected crop for next year is around 82 lakh bags.
Lackluster demand from the overseas buyers coupled with continued better arrivals from the Erode mandi led prices to remain bearish.Favorable weather aided to the growth of the sown crop which further raised hopes of better output.

Exports that had remained low are however expected to rise in coming weeks from Europe, US, West Asia and Japan.

Latest reports from Spice Board of India indicates the expected Turmeric exports for the period April-Sept 2011 have risen by 46% to 41500 MT in 2011 from 28500 MT in 2010 same period.

India turmeric to weigh down on higher output concerns

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MUMBAI (Commodity Online): Turmeric futures likely to open lower on Thursday on the back of increasing arrivals from the fresh crop amid better crop concerns in the next year.

In NCDEX on Wednesday December contract closed lower by 1.24% to Rs.4610 per quintal against the previous close.

Traders expect the trend to remain volatile in the short term as improved production prospects and higher stocks could keep the prices under check to some extent, according to Religare Commodities.

Good Monsoon reports in AP has reportedly keeping the sowing activities proper. The area sown would however depend on market rates and if falling trend continues, traders expect the sowing area may fall as farmers may shift to other lucrative crops like cotton, soybean etc.

The total production this year is expected to touch 75-85 lakh bags (1 bag-75kg) - higher than the 65-70 lakh bags in 2010-11. Higher acreage from the high rates is stated the reason for the rise in expected production as per traders.
According to Spices Board of India, exports of Turmeric during April 2011- October 2011 stood at 50000 tonnes as compared to 32000 tonnes in 2010-11, rise of 56%.

India pepper to open higher on lower production estimates

MUMBAI (Commodity Online): Pepper futures expected to open higher on Wednesday on the back of limited stock in the spot markets along with lower production estimates.

However, demand from the overseas buyers has reduced owing to Christmas and New Year vacation.

Pepper stocks with Vietnam are expected to be around 10 thousand tonnes while that in India is expected to be 12 thousand tonnes.

In NCDEX pepper January contract closed on Tuesday higher by 1.07 % to Rs.36275 per quintal against the previous close.

Pepper prices in the intraday are likely to trade sideways with upward bias on account of lower arrivals in the domestic market amidst recovery in demand from the local buyers, according to Angel Commodities. In the short term (till December 2011) price trend will be determined by the quantity of fresh arrivals in the domestic and price quotes of various origins in the international market.

Global Pepper production in 2012 is expected to increase 7.2% to 3.20 lakh tonnes as compared to 2.98 lakh tonnes in 2011 with sharp rise of 24% in Indonesian pepper output and in Vietnam by 10%.

According to Spices Board of India, exports of pepper during April 2011- September 2011 stood at 11,250 tonnes as compared to 9,250 tonnes in 2010-11, rise of 22%