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Turmeric futures (April) is expected to trade sideways to down in the range of 6570-6700 levels. Turmeric prices are likely to remain subdued till the arrival of new stocks in January. At the Erode Turmeric Merchants Association finger turmeric was sold at ₹5,603-8,088 a quintal and root variety at ₹5,228-7,088. At the Regulated Marketing Committee finger turmeric was ₹6,700-7,700; root variety ₹5,894-6,899. At the Erode Cooperative Marketing Society finger turmeric fetched ₹6,199-7,899; root variety 5,689-7,159. Jeera futures (Jan) is expected to break the support near 18785 levels & plunge towards 18500. Jeera prices have cooled a bit from their recent high levels because of reduced offtake in the spot market. The buyers are awaiting the fresh crop and postponing purchases. Sowing will continue till mid of December and new jeera arrivals will begin from mid-February. According to State government data on Rabi sowing, as on November 26, jeera sowing was completed on 1,22,200 hectares, which is down by 36 percent against what was reported in the same period last year. The trend of coriander futures (Jan) is bullish, however might face slight resistance near 6800. But if surpasses the resistance may witness an extended move towards 6900 levels. Spot coriander prices continued their uptrend at major markets in the country due to strong buying as production is likely to decline due to scanty rains in major producing states. As per trade sources, coriander production is likely to decline by a-third from the previous year to around 240,000 tonnes in 2018-19 (Oct-Sept).
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