Recent events around the world have added to the uncertainties that plague commodities. The exchange rate for the Indian Rupee has shot up against the US dollar. Surge in OIL prices adds to inflationary Outlook.
In the local markets, prices fo4 spices will now be influenced by the progress of the monsoon across India. So far rains have been good and widespread encouraging farmers to increase sowing acreage.
Turmeric prices recovered from the seasons low with renewed export buying but prices have now stabilised at higher levels. The higher USD exchange rate however has made current levels a screaming buy
Tamarind prices jump3d after the new crop arrivals ended and cold store stocks become available. With Ramadan buying expected to emerge next month, prices can scale higher. Please cover your Ramadan requirements NOW when price levels are pulled down by the higher USD rate. As soon as world events normalise and the USD falls back again, export prices will work much higher
Cumin continues to languish in the absence of noticeable buying.
Ginger prices are steady at bottom levels.
New crop Nutmeg started at lower levels and can come down further due to USD
Chilly prices are in check due to lacklustre demand.
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