CAPITALSTARS FRIDAY TURMERIC FUTURES AGRI MARKET NEWS UPDATE 08 MARCH 2019

Turmeric futures (Apr) is likely to trade with an upside bias & may test 6450-6500 levels.

          CapitalStars Investment Adviser.        

The turmeric farmers and traders thanked the Government for declaring Geographical Identification Tag for Erode turmeric. We have received the long waited Geographical Identification Tag for the Turmeric. Jeera futures (Mar) is likely to witness a consolidation in the range of 15300-15500 levels. The reason being is that there is a possibility of damage to the cumin seed crop due to unfavorable weather over the growing regions. It is reported seasonal diseases are beginning to occur in jeera crop due to mixture of all weather conditions from sunshadow to moisture and hot weather. The growers have started putting pesticides in fields. But if the clouds rinsed again, then owing to the dew, the cumin seed will be blackened. Thereby, there will be substantial loss of cash crop in the crop. Coriander futures (Apr) is expected to trade higher & test 6300-6350 levels. The export demand for Indian coriander too has been high from countries such as Malaysia, Egypt, UAE and Saudi Arabia. This demand is likely to go even higher in the remaining months of the fiscal as the output by the other producers are going to be lesser. It is estimated that the global coriander production is estimated to decline by 40 per cent this year.

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