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Turmeric futures (Dec) is expected to trade sideways in the range of 6430-6500 levels. On the spot markets, the price of the turmeric has increased with the arrival of good quality turmeric and buyers are quoting higher price for the commodity which has good percentage of cur cumin content. Jeera futures (Dec) will possibly plunge towards 19200 levels. At Unjha, prices softened & also in the other markets in Gujarat. Major markets of Rajasthan also witnessed a fall in jeera prices. The fundamentals have shifted its focus to bearish side as the acreage under the spice is expected to be better than earlier estimate. Sowing and yield are likely to improve in Gujarat as the state government has said it will provide water from Banaskantha canal for irrigation. The uptrend is likely to persist in coriander futures (Dec) as it can take support near 6300 levels due to a likely fall in acreage due to dry conditions in Rajasthan and Gujarat–the top producers. The sowing is lagging behind badly in Gujarat. At Junagarh, coriander has been sown only in 300 hectares so far as compared to 7,600 hectares during the same period last year. Meanwhile, the sowing has not yet started in the areas of Madhya Pradesh and Rajasthan.
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