Prices of most Indian spices have held steady over the first half of this year as demand has remained favorable despite global economic concerns, Mumbai-based international broker Spicexim observed in a report released this month. The company noted that the trade had adjusted to the economic environment prevalent over the last three years. Price fluctuations were seen during the latter half of the second quarter primarily due to the strengthening of the US dollar against most major currencies, particularly those of the emerging markets, Spicexim said. The depreciating Indian rupee had played a major role in the latter half of the second quarter of 2013. "Our currency has swung by almost 15% in the last six months, touching the lowest level of INR60.40 (USD1.00) on a closing basis in the last week of June," Spicexim noted. The company said it expects the rupee to stay in the INR57.5 to INR59 range for the remaining part of 2013, with the probability of touching INR62 levels in the near future... Read More