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| CapitalStars Investment Adviser |
Turmeric futures (Nov) is likely to trade sideways in the range of 6590-6725.Turmeric prices moved higher by Rs 100-200 per quintal at major spot markets in Maharashtra on Thursday due to rise in demand. Trade activities also remained buoyant at various South Indian markets. After consistent weakness in the last few days, big traders are seen buying turmeric in the spot market at the lower level.Turmeric output is likely to rise by a fifth to 8.5 mln bags (1 bag = 65 kg) this kharif season due to good monsoon rains and also ample supply of water for irrigation from other sources, according to traders. Jeera futures (Nov) is expected to trade in the range of 19500-19900. Spot jeera prices continued to rule unchanged at major markets in the country on Thursday due to stagnant demand from both doemstic and overseas markets. Lower crop estimate for this season owing to deficient rainfall in key producing belts may provide support to the prices.Coriander futures (Nov) is expected to take support near 5750 levels & the upside may remain continue. Spot coriander prices continued to rule strong at major markets in the country due to adverse weather conditions in key producing belts.The prices moved higher at key markets in Gujarat and at key markets of Rajasthan and Madhya Pradesh. However, arrivals remained good but at the same time consistent demand is also being seen which mainly led to a rise in prices.
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