Turmeric futures (Apr) may trade in the range of 6400-6565.
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The new turmeric gets
good response in all the markets. The traders showed great interest in buying the
New Mysore variety turmeric. The Mysore finger turmeric is getting good demand
in Kerala and so many Kerala Merchants have started buying the Mysore variety
directly from production centre Mysore by quoting ₹8,000-8,500 a quintal for the
unpolished turmeric. Lower level buying can be seen in Jeera futures (Mar) may
take support near 16400. Spot jeera prices ruled steady to strong at key markets in
the country amid concerns of crop damage & on expectation of higher export
demand. Secondly, the carryover stocks of jeera are seen at 200,000-300,000 bags
(1 bag = 55 kg), way less than the desirable 500,000 bags. The new crop will only
start arriving in February. As per trade source, new crop arrivals have yet to start in
Gujarat. So, only Rajasthan line jeera is available for trade in the market. Coriander
futures (Apr) is expected to trade above strong support near 6550 levels. Spot
coriander prices edged higher at major markets in Gujarat, Rajasthan and Madhya
Pradesh as rainfall has disrupted supplies. However the rise in prices was narrow
with easing of concerns over crop damage due to reports of limited rainfall.
HAPPY TRADING!!!!!!!!!!!!!!!!!!
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