Turmeric market is attracting late buyers & early shorts; market is vulnerable to a sharp correction but likely that that correction will be bought creating a buy point for uptrend. Jeera prices will depend on the demand from the overseas and domestic buyers and fresh arrivals in the domestic mandis. Pepper exporters are not activity buying in market as they are waiting for Vietnam crop to hit the market which may cool down the prices here also. Steady spot market activity in Mentha oil in absences of fresh market cues might weigh on sentiments. As per derivative analysis, prices and volumes are falling while open interest is rising. It is a good indication that a sharp rally against downtrend will develop creating a sell point for downtrend. Cardamom prices reversed the trend on active selling and remained down and weak demand at spot market may further pressurize the prices. Chana prices are down due to profit booking by the market participants on worries over subdued demand though recovering weather conditions during the last week are likely to help the crop to recover from the damage of the cold wave conditions.
Overall movement of Turmeric is likely to be sluggish as traders are expecting further rise in arrivals in coming days. Jeera prices will depend on the demand from the overseas and domestic buyers and fresh arrivals in the domestic mandis. Pepper exporters are not activity buying in market as they are waiting for Vietnam crop to hit the market which may cool down the prices here also. Mentha oil futures are expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Soybean is expected to trade higher on account of firm overseas market as lower production estimates of Argentina’s crop and better export figures of domestic soy meals are also in favor of the bulls. The decreased demand for Chana from the retailers and the millers is likely to keep the prices under pressure. The expectations of increase in crude oil inventories in a short term are indicating strong global demand for the guar gum. Indian physical markets are likely to witness an active buying for soy oil from wholesale traders on expectation of revival in start-of-the-month retail demand.
Overall movement of Turmeric is likely to be sluggish as traders are expecting further rise in arrivals in coming days. Jeera prices will depend on the demand from the overseas and domestic buyers and fresh arrivals in the domestic mandis. Pepper exporters are not activity buying in market as they are waiting for Vietnam crop to hit the market which may cool down the prices here also. Mentha oil futures are expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Tight world supply of veg oil due to weather aberrations in key producing countries has been supporting the world oil trade. On domestic front, traders are likely to buy futures anticipating decline in import of oil from Argentina due to lower crop expectation. The decreased demand for Chana from the retailers and the millers is likely to keep the prices under pressure. The decreasing arrivals amidst strong demand for the guar gum might keep prices positive
Mentha oil closed at 3% circuit on sluggish demand
Jeera prices will depend on the demand from the overseas and domestic buyers and fresh arrivals in the domestic mandis. Pepper exporters are not activity buying in market as they are waiting for Vietnam crop to hit the market which may cool down the prices here also. Mentha oil futures are expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Indian traders are taking advantage of lower crop size of Argentina by offering soy meal at lower price compared to Brazil and Argentina. The marriage season demand for Chana from the retailers has almost come to an end which might exert pressure on the prices. The decreasing arrivals amidst strong demand for the guar gum might keep prices positive. Participants are creating buy position on speculation that soy oil import in the medium term will be lower due to lower crop expectation in Latin America. The expectations of increase in crude oil inventories in a short term are resulting in good global demand for the guar gum in the short term.
Cardamom closed down on circuit for 2nd consecutive day
Mentha oil trades down on increased arrivals
Oilseeds, soy oil weakens on selling pressure
Guar hit contract high
Chana remains steady
Bulk buying in Turmeric from North Indian buyers is supportive for prices. Jeera prices will depend on the demand from the overseas and domestic buyers and fresh arrivals in the domestic mandis. Any reports of bad weather might provide support to the prices in the short term. Arrival of farm grade pepper has improved since past few days but pepper arriving in the market is of very low bulk quality. Mentha oil is expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Demand from the local stockists for Chana has improved after prices declined in the beginning of this week. The decreasing arrivals amidst strong demand for the guar gum might keep prices positive. Participants are creating buy position on speculation that soy oil import in the medium term will be lower due to lower crop expectation in Latin America. The expectations of increase in crude oil inventories in a short term are resulting in good global demand for the guar gum in the short term.
Bulk buying in Turmeric from North Indian buyers is supportive for prices. Jeera prices will depend on the demand from the overseas and domestic buyers and fresh arrivals in the domestic mandis. Any reports of bad weather might provide support to the prices in the short term. Arrival of farm grade pepper has improved since past few days but pepper arriving in the market is of very low bulk quality. Mentha oil is expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Demand from the local stockists for Chana has improved after prices declined in the beginning of this week. The decreasing arrivals amidst strong demand for the guar gum might keep prices positive. Participants are creating buy position on speculation that soy oil import in the medium term will be lower due to lower crop expectation in Latin America. The expectations of increase in crude oil inventories in a short term are resulting in good global demand for the guar gum in the short term.
Bulk buying in Turmeric from North Indian buyers is supportive for prices. Jeera prices will depend on the demand from the overseas and domestic buyers and fresh arrivals in the domestic mandis. Any reports of bad weather might provide support to the prices inthe short term. Arrival of farm grade pepper has improved since past few days butpepper arriving in the market is of very low bulk quality. Mentha oil is expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. The marriage sea-son demand for Chana dal and besan from the retailers has almost come to an end across the spot markets. The expectations of increase in crude oil inventories in a short term are resulting in good global demand for the guar gum in the short term though millers and the exporters are likely to remain inactive anticipating the spot prices to decrease. Refined soy oil is expected to trade range bound with amid subdued trading activity on lack of fresh fundamentals for short term.
In the medium term turmeric prices may trade bearish due to increase in the arrivals owing to better production. Any reports of bad weather in the Jeera growing regions might provide support to the prices in the short term. Pepper prices will depend on demand from the overseas & domestic market and fresh arrivals in the market. Mentha oil is expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Lack of proper information regarding Guatemala cardamom crop is weighing on market sentiments. Government is concerned about the food inflation levels which might further reduce the stock limits of Chana. The expectations of increase in crude oil inventories in short term are resulting in good global demand for the guar gum in the short term. Thus the buyers might still buy at the current higher price levels as the parity is still higher as the guar gum prices are quoted higher. Traders and investors are likely to sell soy oil futures on fear of likely government intervention to control higher food inflation.
In the medium term turmeric prices may trade bearish due to increase in the arrivals owing to better production. Any reports of bad weather in the Jeera growing region might provide support to the prices in the short term. Vietnamese are quoting lower prices for their Pepper which might weigh on prices in near term. Mentha oil is expected to continue the bearish trend as active selling may pull down the prices. Sluggish Demand due to good sowing progress might further add to the down side. Lack of proper information regarding Guatemala cardamom crop is weighing on market sentiments. The crop damage reports of Chana might come out during the week. The arrivals have gained momentum across the spot markets. The expectations of increase in crude oil inventories in short term are resulting in good global demand for the guar gum in the short term, thus the buyers might still buy at the current higher price levels as the parity is higher. Tight carry-over stock is supporting the soy oil market. On domestic front, fresh buying might emerge on expectation of decline in import.
Turmeric prices may trade bearish due to increase in the arrivals owing to better production. Any reports of bad weather in the Jeera growing region might provide support to the prices in the short term. Reports of crop damage due to floods and heavy rains in Sri Lanka and Indonesia may support Pepper prices. However, lower quotes offered by Vietnam might weigh on prices. Mentha oil is expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Lack of proper information regarding Guatemala cardamom crop is weighing on market sentiments. The crop damage reports of Chana might come out during the week. The arrivals have gained momentum across the spot markets. The arrivals of Guar have been declining gradually across the spot markets, expectations of increase in crude oil inventories in short term are resulting in good global demand for the guar gum. In February month crop report, USDA projected tighter world soybean supply and higher export of oil.
Turmeric prices may trade bearish due to increase in the arrivals owing to better production. Any reports of bad weather in the Jeera growing region might provide support to the prices in the short term. Reports of crop damage due to floods and heavy rains in Sri Lanka and Indonesia may support Pepper prices. However, lower quotes offered by Vietnam might weigh on prices. Mentha oil is expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Lack of proper information regarding Guatemala cardamom crop is weighing on market sentiments. The crop damage reports of Chana might come out during the week. The arrivals have gained momentum across the spot markets. The arrivals of Guar have been declining gradually across the spot markets, expectations of increase in crude oil inventories in short term are resulting in good global demand for the guar gum. In February month crop report, USDA projected tighter world soybean supply and higher export of oil.
Demand for Turmeric from the overseas and domestic is weak as the buyers are anticipating further fall in the prices in the coming days. Any reports of bad weather in the Jeera growing region might provide support to the prices in the short term. Reports of crop damage due to floods and heavy rains in Sri Lanka and Indonesia may support Pepper prices. However, lower quotes offered by Vietnam might weigh on prices. Mentha oil is expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Lack of proper information regarding Guatemala cardamom crop is weighing on market sentiments. Lower availability of Chana in the market until fresh arrivals commence in good quantity from M.P are likely to support prices. We expect Guar prices to recover on export demand and trade in the range of Rs 2720 and Rs 3050. Refined soy oil prices are expected to trade slightly higher on global shortage of edible oils and depreciation of Indian rupee against US dollar also provide support to the bulls.
Demand for Turmeric from the overseas and domestic is weak as the buyers are anticipating further fall in the prices in the coming days. Any reports of bad weather in the Jeera growing region might provide support to the prices in the short term. Reports of crop damage due to floods and heavy rains in Sri Lanka and Indonesia may support Pepper prices. However, lower quotes offered by Vietnam might weigh on prices. Mentha oil is expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Lower availability of Chana in the market until fresh arrivals commence in good quantity from M.P are likely to support prices. The buyers of Guar have remained inactive across the spot markets and the arrivals have been declining gradually. The millers and stockists refrained from buying as the prices were quoted higher. Market participants are eagerly waiting for Budget, wherein Finance Minister is likely to make some announcement for the oilseed sector.
Demand for Turmeric from the overseas and domestic is weak as the buyers are anticipating further fall in the prices in the coming days. Any reports of bad weather in the Jeera growing region might provide support to the prices in the short term. Reports of crop damage due to floods and heavy rains in Sri Lanka and Indonesia may support Pepper prices. However, lower quotes offered by Vietnam might weigh on prices. Mentha oil is expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Lower availability of Chana in the market until fresh arrivals commence in good quantity from M.P are likely to support prices. The buyers of Guar have remained inactive across the spot markets and the arrivals have been declining gradually. The millers and stockists refrained from buying as the prices were quoted higher. The demand for oil might shrink at current higher levels. Bullish edible oil import data may not support the market to recover
Demand for Turmeric from the overseas and domestic is weak as the buyers are anticipating further fall in the prices in the coming days. Any reports of bad weather in the Jeera growing region might provide support to the prices in the short term. Reports of crop damage due to floods and heavy rains in Sri Lanka and Indonesia may support Pepper prices. However, lower quotes offered by Vietnam might weigh on prices. Mentha oil is expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. The government is concerned about the food inflation levels which might further reduce the stock limits of Chana across Madhya Pradesh and Rajasthan. Sluggish buying across the spot markets and likely higher delivery of the guar gum on February expiry is expected to support the fall in prices. Dampening demand for soy oil in the spot market is likely to have a bearish impact on the market. Shrink in physical demand for soybean and its derivatives is likely to have bearish impact on the market.
Traders of Turmeric are receiving good orders from north Indian buyers which is likely to support the upside in prices. Any reports of bad weather in the Jeera growing region might provide support to the prices in the short term. Indian importers have bought Vietnamese pepper at cheaper rate which is likely to create pressure on prices in Indian market. Fresh arrivals of Chana might start increasing from Madhya Pradesh at Indore markets in small quantities. Sharp decline in other pulses prices across major market is also triggering weak trend in Chana market. Indian traders are getting good gum export enquiries, which might render support to the market.The physical demand for soybean and its by-products has been declining for last couple of days on fear of likely government intervention to control higher food inflation. In the upcoming budget, food inflation is major concern and government might announce further measures to control it. Soybean oil prices are expected to trade lower at prevailing prices & government of India may abolish import duty of 7.5 % from refined edible oils are also in favor of bears
Traders of Turmeric are receiving good orders from north Indian buyers which is likely to support the upside in prices. Any reports of bad weather in the Jeera growing region might provide support to the prices in the short term. Indian importers have bought Vietnamese pepper at cheaper rate which is likely to create pressure on prices in Indian market. Fresh arrivals of Chana might start increasing from Madhya Pradesh at Indore markets in small quantities. Sharp decline in other pulses prices across major market is also triggering weak trend in Chana market. Indian traders are getting good gum export enquiries, which might render support to the market. The physical demand for soybean and its by-products has been declining for last couple of days on fear of likely government intervention to control higher food inflation. In the upcoming budget, food inflation is major concern and government might announce further measures to control it. Soybean oil prices are expected to trade lower at prevailing prices & government of India may abolish import duty of 7.5 % from refined edible oils are also in favor of bears.
Traders of Turmeric are receiving good orders from north Indian buyers which is likely to support the upside in prices. Any reports of bad weather in the Jeera growing region might provide support to the prices in the short term. Indian importers have bought Vietnamese pepper at cheaper rate which is likely to create pressure on prices in Indian market. Fresh arrivals of Chana might start increasing from Madhya Pradesh at Indore markets in small quantities. Sharp decline in other pulses prices across major market is also triggering weak trend in Chana market. Indian traders are getting good gum export enquiries, which might render support to the market. The physical demand for soybean and its by-products has been declining for last couple of days on fear of likely government intervention to control higher food inflation. In the upcoming budget, food inflation is major concern and government might announce further measures to control it. Soybean oil prices are expected to trade lower at prevailing prices & government of India may abolish import duty of 7.5 % from refined edible oils are also in favor of bears.
Jeera prices may trade bullish owing to forecast of rains in Rajasthan and reports of ground frost in Gujarat which might damage the standing crop. Pepper prices are expected to trade sideways to down on account of fresh arrivals of pepper from Vietnam and lackluster demand from the overseas buyers. Turmeric may consolidate due to recovery in demand from overseas buyers and expectation. Crushers may continue to abstain from active buying of Soybean because of poor meal export demand. Shrinking crush margin is also prompting them to stay away from active buying. Market participants are closely watching for budget wherein government is likely to announce some measures to control food inflation. Mentha oil export is expected to rise and domestic demand from pharmaceutical Industries are likely to provide support to prices in the medium term. The export enquiries for the guar gum are expected to support the uptrend in the prices. The Indian traders are flooded with gum export enquiries in turn supporting the prices. The exporters have bought gum to be delivered at the Mumbai ports to meet the long pending consignments.
Jeera prices may trade bullish owing to forecast of rains in Rajasthan and reports of ground frost in Gujarat which might damage the standing crop. Pepper prices are expected to trade sideways to down on account of fresh arrivals of pepper from Vietnam and lackluster demand from the overseas buyers. Turmeric may consolidate due to recovery in demand from overseas buyers and expectation. Crushers may continue to abstain from active buying of Soybean because of poor meal export demand. Shrinking crush margin is also prompting them to stay away from active buying. Market participants are closely watching for budget wherein government is likely to announce some measures to control food inflation. Mentha oil export is expected to rise and domestic demand from pharmaceutical Industries are likely to provide support to prices in the medium term. The export enquiries for the guar gum are expected to support the uptrend in the prices. The Indian traders are flooded with gum export enquiries in turn supporting the prices.
