Black pepper markets extended previous weakness further. It was quoted lower by Rs. 100 per quintal in benchmark Kochi market amid no arrivals as well as offtake. Traders reported weak demand as the major reason behind the decline in pepper prices at physical markets. Moreover, weakness in pepper futures counter has also weighed on the physical markets. Despite a global supply shortage, global pepper prices have declined considerably eyeing the new harvest of Indonesia and Brazil. However, some reports suggest that almost half of the Indonesian crop has already been harvested and sold to local stockists, exporters. This may in turn result into completing harvest within a short period of time, thus capping the recent downtrend in global prices.

Domestic jeera markets remain on an average stable during Monday’s trade. It was offered in a mostly unchanged price range in benchmark Unjha markets amid steady arrivals as well as offtake. Traders reported presence of some demand at lower price levels as a major supportive feature for the market. Spillover weakness from jeera futures counter has pressurised the physical market prices. Though the long-term fundamentals for jeera remain firm with the supply shortage, both domestically as well as globally, the near-term outlook seems gloomy until demand improves considerably. Traders are now eyeing the coming festival season for any improvement in demand.

Domestic chilli prices at the major spot market continued the steady movement of previous week. Prices remained in the range of Rs.4000-4500 per quintal. Out of total arrivals of 30000 bags around 15000 bags were sold. Local demand is steady and is likely to remain same in the days ahead. Regular demand from Bangladesh, Malaysia and Singapore is supportive. Out of the total arrivals around 4000-6000 bags comprised of export demand. Crop from Madhya Pradesh is likely to hit the market form mid October. Prices are likely to remain rangebound to slightly firm in anticipation of good buying at lower levels.

Turmeric prices at the domestic spot market were quoted steady to marginally firm by Rs.25 per quintal at the major spot markets. At Nizamabad the prices were up at Rs.2025 per quintal amidst steady arrival and offtake. At Erode the price remained unchanged at Rs. 2050-2100 amidst marginally low arrivals. Domestic demand for the commodity is likely gain after Janmashtami from next week onwards. Export demand is steady for Desi Cudappa variety from Japan as well Gulf demand is active for Nizamabad variety. Prices for the commodity is likely to remain range bound to marginally firm in the coming days.