CAPITALSTARS TUESDAY TURMERIC FUTURES AGRI MARKET NEWS UPDATE

CapitalStars Investment Adviser

Turmeric futures (Nov) is likely to trade sideways to down in the range of 6480-6650. Spot turmeric prices decreased at the markets in Erode despite lower arrivals. This is due to slack upcountry demand. Regarding the price, finger variety lost Rs.100 a quintal while root variety decreased by Rs.150. At the Erode Turmeric Merchants Association sales yard, the finger turmeric fetched Rs.5,588-7,869 a quintal and the root variety went for Rs.5,211-7,002. Jeera futures (Nov) is

expected to trade with an upside taking support near 19830. Spot jeera prices continued to rule higher at major markets in Gujarat and Rajasthan amid better export as well as festive demand at domestic level. Lower crop estimate for this season owing to deficient rainfall in key producing belts also provided support to the prices. The prices quoted strong by Rs.20-25 per 20kg at major markets in Gujarat, while gained by Rs.100-200 per quintal at major markets in Rajasthan. Coriander futures (Nov) is trade higher towards 5750 levels. 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 by Rs.20-30 per 20kg at key markets in Gujarat and by Rs.100-200 per quintal at y 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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