Normal crop is around 350,000mt with additional of approx 45,000mt carried forward from previous year.
Market has been ruling steady with little movement depending on demand and supply. We anticipate that the price will remain at current levels and should start coming down with the arrival of new crop from end December, 2007.
Normal crop is around 275,000mt with additional of approx 40,000mt carried forward from previous year.
The market for this product has touched the highest levels that we have seen in the last 20 years. The market continues to be strong with upward tendency. The price has moved up by over 138% from its normal price this year and will only come down with the arrival of the new crop. The East European crop has been small and the prices have moved up there dramatically there. Even Canada has a smaller crop and the price being offered are over USD1250/mt..
Normal crop is around 80,000mt with additional of approx 35,000mt carried forward from previous year.
Prices have moved up by over 62.5% from April to September, 2007. This is because the 2007 crop was short by 25% and with the Middle East crop being smaller, prices were pushed up in the international market. However, we have not seen any further upward movement in prices during September and feel that the prices will remain at current levels till the new crop arrives in Feb/March, 2008..
Fennel
Normal crop is around 50,000mt with additional of approx 15,000mt carried forward from previous year.
2007 is expected to be around 90,000mt with carry forwards almost nil from 2006 crop.
An excess of around 38% is expected this year.
Price will come down this year with arrival of the new crop from February, 2007.
Fenugreek
Normal crop is around 400,000mt with additional of approx 5,000mt carried forward from previous year.
The 2007 crop has been extremely small. It is claimed that it was only 40% of the normal. Price has moved up by 98% and with the new crop expected only in April, 2008, we may see new highs for the same.
Normal crop is around 315,000mt with additional of approx 35,000mt carried forward from previous year.
The prices have been at very low levels this year. However, with the sowing for the 2008 crop being less, we anticipate that the stockist will come into the market in the next two months and cover for stocking as they will anticipate higher prices for the new crop during 2008. We could see an upward movement of about 15% to 20% in the near future.
Market is strong and will continue to be so with the festive season in India. As you are aware, India is the largest user of vegetable oil and imports a lot of it from other far east countries.
This being the case, with a smaller 2007, we do not see prices coming down till the new crop arrives in Feb, 2008.
Bullish
Bearish
Steady
Freight: The sea freight has increased from USD1100 to USD1900 in the last one month due to very heavy cargo movement from the Far East to Europe. With very great difficulty, we are able to get containers for shipment from out of India. Moreover, there are many roll overs as the main line vessels skip Colombo which is our transhipment point since they are already over booked. This situation is a night mare for us.
Currency: The Indian Rupee continues to rule strong against all the other currencies. With the Indian economy doing very well, we anticipate the Rupee to improve further in the coming days. As of now in the last 3 months, the Indian Rupee has increased by approx. 8.2% against the USD, 5.12% against the STG and 6.1% against the Euro.
