Turmeric futures (Apr) may trade in the range of 6450-6700.
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Turmeric prices ruled
stable at the key markets in the country on Tuesday amid limited demand and
supply. Demand from North India was reported sluggish due to prevailing cold
wave conditions. As far export demand is concerned it has also remained subdued.
Lower level buying can be seen in Jeera futures (Mar) & the prices may trade in the
range of 16800-17250. Spot jeera prices ruled steady to strong at key markets in
the country on Tuesday amid concerns of crop damage &. on expectation of higher
export demand. Prices moved higher by Rs 10-15 per 20 kg at the key Unjha
market. Trade sources revealed that India is likely to have exported around
120,000 tonnes jeera in Apr-Dec, up over 13 percent on year, trade sources said.
Exports of the spice have risen due to a strong demand from China, Europe, the US,
and West Asia. Secondly, the carryover stocks of jeera are seen at 200,000-
300,000 bags (1 bag = 55 kg), way less than the desirable 500,000 bags. The new
crop will only start arriving in February. The coriander futures (Apr) is expected to
trade above strong support near 6550 levels. Spot coriander prices edged higher at
major markets in Gujarat, Rajasthan and Madhya Pradesh on on Tuesday as rainfall
has disrupted supplies. However the rise in prices was narrow with easing of
concerns over crop damage due to reports of limited rainfall.
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