SPICES NEWS

26 Jul 2017

TURMERIC PRICES DOWN BY US$ 75 PMT OVER THE WEEKEND AS MASSIVE RAINS ARRIVE INTO SOUTH INDIA WHICH WAS MUCH NEEDED AND JUST IN TIME BASIS. ALSO THE ANDHRA PRADESH STATE GOVERNMENT HAS FLOATED A TENDER TO SELL 50,000 TONS STOCK OF TURMERIC FINGERS IT BOUGHT 1-2 YEARS BACK FROM FARMERS TO GIVE THEM AT THAT TIME MINIMUM SUPPORT PRICE, NOW THEY HAVE DECIDED TO SELL SAME IN FIRST WEEK AUGUST ONWARDS IN OPEN MARKET TENDER, SO RAINS AND FRESH SUPPLIES OF 50,000 TONS HAS RESULTED IN PRICES CORRECTING SWIFTLY

CUMIN PRICES CORRECT BY US$ 100 PMT ON REPORTS OF GOOD RAINS IN ALL KEY CUMIN GROWING STATES WHICH ENSURES LOTS OF MOISTURE IN THE FIELDS WHEN SOWING HAPPENS LATER IN THE YEAR AND ALSO DAMS FULL FOR IRRIGATED WATER TO THE FIELDS, AND ALSO MELT DOWN IN PRICES ON THE EXCHANGE, SO CUMIN PRICES UP AND DOWN BY US$ 100 PMT TO US$ 200 PMT HAS BECOME KIND OF DAY TO DAY DEVELOPMENTS TO ADAPT TOO

REST SEEDS AND SPICES PRICES QUITE AND FLAT WITH GOOD MONSOON SPELL, THIS ENSURES ADEQUATE MOISTURE IN THE FIELDS, DAMS FULL TO HELP IRRIGATED WATER SUPPLY DIRECTLY INTO THE FIELDS AND ALSO PEAK SUMMER HOLIDAY PERIOD IN EUROPE AND USA SO LOW BUYING MONTHS OF JULY AND AUGUST BASIS AND PEAK DOMESTIC DEMAND WILL START FROM NEXT MONTH WHEN FESTIVITY SEASON STARTS IN INDIA 

FLOOD LIKE SITUATION IN GUJARAT, SO EXPECT DELAYS IN SHIPMENT FROM GUJARAT , SEE LINK ON THE FLOODS SITUATION IN GUJARAT http://www.ndtv.com/topic/gujarat-floods SO EXPECT DELAYS IN SHIPMENT BY A WEEK OR TWO BASIS

ADVICE WHAT IS CARAWAY SEEDS SPOT PRICES IN EUROPE ? AND WHAT IS PRICES TREND FOR NEW CROP TOO

SESAME SEEDS PRICES UP BY US$ 100 PMT IN UNDER A WEEK ASGUJARAT, AND NOW RAJASTHAN, TWO KEY STATES OF INDIA WHICHPRODUCE SESAME SEEDS, ARE IN MIDDLE OF CRAZY RAINS NEVERSEEN IN THE LAST 10-15 YEARS, AND FLOOD ALERT AND MILITARY ONTHE FOOT, RESCUING PEOPLE AND ROADS BADLY DAMAGED ANDFIELDS SUBMERGED WITH RAIN WATER OF 3 FEET TO 4 FEET BASIS NEW CROP SOWING WHICH WAS DONE 2-3 WEEKS BACK IS NOWSUBMERGED IN KNEE HEIGHT WATER, AND RAINS CONTINUE TO COMEWITH BRUTAL FORCE IN BOTH THESE STATES SO THE SOWED SEEDSARE DAMAGED FOR SURE TO A LARGE EXTENT AND CERTAIN % OF ITMUST HAVE GOT WASHED AWAY RAIN WATER NEEDS TO RECEDE FROM THE FIELDS OR DRY UP QUICKLYFOR NEW SOWING TO COMMENCE, THIS SHOULD HAPPEN IN UNDER 7 TO10 DAYS, FOR IF IT TAKES MID AUGUST FOR FIELDS TO DRY UP, THEN THEFARMERS WONT RESOW SESAME SEEDS AS THAT WOULD MEAN THE NEWCROP HARVEST WOULD BE MID NOVEMBER BASIS BY WHICH TIME THENEXT CROP CYCLE SOWING IN MID OCTOBER WILL BE MISSED, SO THEYWOULD RATHER SKIP SOWING SESAME SEEDS AND WAIT FOR THE NEXTCROP CYCLE AND SOW SOME OTHER PRODUCT OF SHORTER PERIODCROP CYCLE SO THESE FEAR FACTORS, CONTINUED RAINS IN BOTH THESE STATESAND FLOOD ALERT IN BOTH THESE STATES, THERE IS PANIC ON THESESAME STREET AND BLOOD BATH AS EXPORTERS CAUGHT SHORT ONLOW LOW PRICE SALES, LOW PRICE KOREAN TENDER SALES CERTAIN% YET TO BE BOUGHT BY THE SHIPPERS, STOCKIEST SURGING TO BUYIN ANTICIPATING PROBLEMS IN NEW CROP SIZE, PANIC BUYING BY ALLEXPORTERS HAS RESULTED IN SUPER RALLY IN PRICES TOO MUCH UNCERTAINTY ON NEW CROP SIZE THAT WILL COME NOWIN GUJARAT AND RAJASTHAN, THEN HOW WILL THE MONSOON PATTERNBE FOR THE MONTH OF AUGUST AND SEPTEMBER IN THE OTHER TWOBIG STATES OF MADHYA PRADESH AND UTTAR PRADESH WHO GET INBULK OF THE NEW CROP SESAME SEEDS, WILL TAKE A TOLL ON THEPRICES AND EXPECT FURTHER SURGE OF US$ 100 PMT IF RAINS DOCONTINUE AT THIS PACE IN GUJARAT AND RAJASTHAN BRACE FOR UP AND DOWN ON PRICES, DO NOT BE SHORT, JUST BEEXTRA WATCHFUL AND CAREFUL

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