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Turmeric futures (Dec) is expected to trade sideways in the range of 6535-6700 levels. Good number of bags of turmeric was sold at the spot markets. The finger turmeric was decreased by Rs.300 a quintal at the Regulated Marketing Committee and Rs.50 at Erode Turmeric Merchants Association Sales yard. But, the finger turmeric was increased by Rs.800 at the Erode Cooperative Marketing Society and Rs.350 of root variety. Jeera futures (Dec) is expected to witness correction towards 19390, if trades below 19860 levels. With the end of the festive season, uptrend is unlikely to continue in the coming days. Demand may weaken at domestic level ahead. At Unjha, prices fell by Rs.50 per 20kg. A similar trend was seen at other markets in Gujarat where prices softened by Rs.25-50 per 20kg. Major markets of Rajasthan also witnessed a decline of Rs.100-200 per quintal in prices. Coriander futures (Dec) is expected to maintain its uptrend taking support near 6375 levels. Spot coriander prices continued to remain higher at major markets in the country with increasing demand. Meanwhile, farmers are mostly restraining themselves from sowing due to deficient monsoon. Sowing is lagging behind by 40-50 percent in Gujarat. While, it has not yet started on a large scale in
Madhya Pradesh and Rajasthan but sources are estimating a cut in production in these two states also. The sentiments have turned bullish and prices are beingstrengthened amid very slow progress in sowing in Gujarat and deficient rainfall.
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