MUMBAI (Commodity Online): India rupee fell 30 paise against dollar on Thursday.With the weakening of rupee, the imports of agri-commodities for re-exporting after processing gets costly.
When the rupee drops against dollar, the importers have to pay more amount for the commodities then regular normal prices.
India's agri- commodities especially spices has been seen trading lower in the futures market for the past few days.
According to agri-analysts, exports of almost all the agri-commodities are down and the commodities are trading lower in futures market.
“Weak rupee may be the reason for the exports to move down”said Anil patadia, agri-analysts, Commodity Online.
On NCDEX, coriander for November dilivery traded down 1.34% or Rs 68 dropped to Rs 4990, pepper traded down 1.60% or Rs 545 to Rs 33500.
Meanwhile NCDEX jeera and NCDEX turmeric traded marginally up on domestic demand. Jeera traded up 0.18% to Rs 14295 and turmeric traded 0.24% higher to Rs 4920 on 3rd November at 14:50 IST
