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Coriander futures extended gains on improved domestic demand amid better quality spice in physical markets. Sentiment
also improved on concerns over a fall in the final output due to crop damage in Rajasthan and Madhya Pradesh.
Jeera futures are expected to trade lower due to selling pressure as arrivals of the new crop are rising sharply in spot
markets. The off take is likely to remain limited due to expectation of high output on significant rise in sowing. However,
expectations of pick up in export may limit sharp fall in prices. As per the latest data by Gujarat Agriculture Board, total
acreage of jeera in the state has been increased by 1.05 lakh hectares from the last year to 4.54 lakh hectares. Traders
estimated that total production of jeera is likely to increase by 10 lakh bags to around 46 lakh bags in the current year.
MENTHA OIL FUTURE
In menthaoil no major domestic demand and export cues are being noticed. beside this, the change in the arrivals pattern
is further weighing on market sentiments. As the sowing is close to completion, farmers are willing to offload their
holding stocks. However, concerns over the carryover stocks are still persisting because most of the carry forward stocks
are with local stockists who are reluctant to sell their stocks due to the current price trend. We feel that the increase in
supply from farmers coupled with the sluggish demand might pressurize mentha oil prices further.
Cardamom futures may trade with a positive bias on firm overseas demand . Meanwhile, strong arrivals likely to limit
sharp rise in prices. As per market source,the Spices
BUY DHANIYA MAY ABOVE 9680 TGTS 9780,9880 SL 9530
SELL DHANIYA MAY BELOW 9490 TGTS 9390,9290 SL 9640
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