Seed Spices association over the weekend predicted huge crop in Cumin, fennel, Coriander and Fenugreek Seeds considering very good monsoon in India and no unseasonal rain showers till now.
Cumin: Gujarat Crop around 240,000 MTs and Rajasthan about 295,000 making total around 535,000 MT, increase of 29% over last year. Today 18000 bag arrivals in Unjha and 16,000 to 18000 in Gondal, Rajkot and Jamnagar. NCDEX also weak as expected considering the crop figures over the weekend. However China has bought lot of cargo in last few days with their warehouses empty and exporters buying will be good in March considering export incentive scheme expiring in March. We anticipate real weakness to start after April 15.
Fennel: Initial survey had showed lesser sowing but association put a surprise here showing 20% more crop. Peak arrivals for fennel are always in April and domestic buying is good in March for better color.
Fenugreek: Last year crop was smaller. However good rains this year had increased sowing and crop seems 30% more than last year.
Coriander Seeds: Gujarat crop is 3 times more than last year and overall crop seems 50% more. Good colored material will demand premium in March / April and average Eagle quality seems headed to USD 800 levels.
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