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Live insects: Imports from India have been suspended

March 3, 2017 at 10:31 AM , Der AUDITOR
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GUJARAT. Vietnam has suspended imports from India. Several agro commodities are contaminated with live insects.

 

The country has suspended imports of peanuts, cassia alata seeds, cocoa beans and tamarind from India. The ban has become effective in March. Previous imports are being closely monitored.

Cumin

Traders have already started purchasing small amounts from the new crop. They are, however, waiting for further price drops before conducting larger purchases. Market participants reckon that India will export as much as 120,000 mt in the coming season. The FOB prices for cumin A grade 99% have dropped by 140 USD/mt to a level of 2,550 USD/mt this week.

Coriander

The traders have started long-term coverings. Due to the bearish price trend of the last few weeks the buyers were hesitant until the prices stabilised. The lowest for coriander eagle 5% split was seen at 910 USD/mt FOB and offers are now available for 930 USD/mt FOB.

Turmeric

Increasing arrivals are pressuring prices. The predominant bearish sentiments of the last few weeks have, however, subdued trading activities at the spot markets. Unlike the buyers, who are hoping for lower prices, the traders are not prepared to sell at the prevailing low levels. Export demand may currently be rather low, but this is set to improve over the next few weeks.

Chili

It is estimated that the dry chili production will increase by 15-20% this year, which should result in nominal price reductions. Although availability is set to improve, market participants do not reckon that prices will drop in the long run. It is rather expected that they will rise since demand has increased in Vietnam, Thailand and Malaysia.

Cardamom

Buyers in India have stopped purchasing cardamom for now. They expect prices to drop as soon as new crop arrivals improve. This year’s production is, however, said to have dropped by half in India’s key producing region Kerala as compared to last year. It is estimated that less than 15,000 mt will be produced. Official reports state that 30,353 ha have been affected by drought. Cardamom 8 mm is currently being sold for 22,700 USD/mt FOB.

Please find attached the price list.

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