NCDEX Turmeric continue to trade under pressure due to profit booking by market
Since April, the prices have corrected about 10.6%
due to reports of new season sowing and higher carry-over stocks
with the stockists. The improving export demand and forecast of
below normal rains in the turmeric growing areas of the country
may support prices as season progresses. As per Commerce
Ministry, turmeric exports during the month of March, up 25.5%
y/y to 13,140 tonnes (Vs 10,473 t). While, turmeric exports in
2018/19 is up by 19.2% compared to last year. Country exported
about 1.33 lakh tonnes of turmeric in FY 18-19 compared to 1.11
lt last year. In 2018/19, production is forecast at 10.77 lt in the
3rd advance estimates by the government.
Turmeric futures expected to trade sideways in coming sessions
but higher stocks with traders and farmers may pressurize prices
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Since April, the prices have corrected about 10.6%
due to reports of new season sowing and higher carry-over stocks
with the stockists. The improving export demand and forecast of
below normal rains in the turmeric growing areas of the country
may support prices as season progresses. As per Commerce
Ministry, turmeric exports during the month of March, up 25.5%
y/y to 13,140 tonnes (Vs 10,473 t). While, turmeric exports in
2018/19 is up by 19.2% compared to last year. Country exported
about 1.33 lakh tonnes of turmeric in FY 18-19 compared to 1.11
lt last year. In 2018/19, production is forecast at 10.77 lt in the
3rd advance estimates by the government.
Turmeric futures expected to trade sideways in coming sessions
but higher stocks with traders and farmers may pressurize prices
Click here to visit my website : https://bit.ly/1h8KZUM
Free Trial link : https://bit.ly/2u2GUhK
Any queries CALL US : 9977499927
CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY -
Visit our website : http://www.capitalstars.com/free-trial
CAPITALSTARS CALL US : 9977499927
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