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11 July 2014

Nutmeg to become pricier on deficient monsoon

Written by Jayant Chaudhary

The nutmeg crop in the country could be affected, leading to a consequent rise in prices, if the south-west monsoon doesn’t make up for its deficiency last month. Given the weather conditions prevailing so far, nutmeg production in the country is estimated to be the normal 12,000 tonnes.

“But, any deficiency in the monsoon this month will impact the current crop bringing down the output by 1,000 tonnes,” Anand Kishore, President, India Pepper and Spices Trade Association (IPSTA), told Business Line. In view of deficient rain coupled with the humid weather conditions, a bullish sentiment has already built up in the market, he said. Investors, stockists, farmers and dealers are all are bullish, he said.

News Source : Business Line - New Delhi, 9 July 2014

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