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Turmeric futures (Dec) is expected to trade sideways in the range of 6440-6540 levels. On the spot markets, buying activities is very sluggish at major spot markets due to the absence of stockiest amid steady arrivals and availability of mostly low quality stocks. Moreover, it is reported that the quality of stocks lying with state-run agencies in Andhra Pradesh is not good so the state government directive to all the state-run agencies in the state to clear/offload turmeric stocks at market rates on an immediate basis. Around 2 lakh bags of stocks are still lying with the state-run agencies in the state. Meanwhile, powder making companies are submitting tender applications to get stocks. The auction process is likely to be held in a week. Jeera futures (Dec) is likely to witness correction & test 19200 levels. As per reports, sowing prospects are still gloomy as the water which is being released from the Banaskantha canal for irrigation seems inefficient. Some of the areas have received water but interior areas are still facing a drought like situation. But, if the state government releases sufficient water than there could be a short term correction in prices. Coriander futures (Dec) may continue to hold the uptrend & take support near 6040 levels. The counter will take positive cues from the weak arrivals and a likely fall in acreage because of dry conditions in Rajasthan and Gujarat. It is reported that the sowing is lagging behind poorly in Gujarat, while, it has not yet started in Madhya Pradesh and Rajasthan.
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