CAPITALSTARS MONDAY TURMERIC FUTURES AGRI MARKET NEWS UPDATE 25 MARCH 2019

 Turmeric futures (Apr) is trading near its yearly low of 6050, hammered by dearth in domestic as well as export demand.

          CapitalStars Investment Adviser.        

This counter will possibly plunge further & make a new low by testing the quarterly support of 5925 levels. In days to come, the pressure from the supply side is likely to increase as the fresh Erode Turmeric may arrive for sale only in the middle of April, as the harvest is in progress in many places. For the time being, the spot markets are shut on account of local festival and Holi holidays. Erode market will re-open on Wednesday, while Nizamabad market will re-open on Monday. Jeera futures (Apr) is likely to extend its gains for the second consecutive week & test 15800, taking support near 15500 levels. The sentiments are positive because of strong demand for better-quality crop amid lower arrivals in Unjha market of Gujarat. The supply side fundamentals cite that in Gujarat, acreage has fallen by 5% to 315,000 ha with output seen 3% lower at 166,640 tn. However, this has been offset by Rajasthan, wherein jeera output is estimated at 249,960 tons this year, up from 207,830 tons last year, following a 19% jump in acreage. Coriander futures (Apr) is witnessing buying on dips & taking support near 6500 levels. In days to come, it may trade higher towards 6700-6750 levels owing to projections of lower crop. The crop in Gujarat is likely to be down by 52% to 38,890 tonnes, with acreage of 30,500 hectares. The largest grower, Madhya Pradesh, will also see coriander output at 1,16,510 tonnes, down 15% over last year. This season, the farmers have avoided this crop and turned to jeera or fennel seed instead. Oilseeds: The trend of soybean futures (Apr) is bearish; hence the short covering may remain restricted near 3745 levels. 

HAPPY TRADING!!!!!!!!!!!!!!!!!!

Click here to visit my website : https://bit.ly/1h8KZUM

Free Trial link : https://bit.ly/2u2GUhK

Any queries CALL US : 9977499927

CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY  -

Visit our website : http://www.capitalstars.com/free-trial

CAPITALSTARS CALL US : 9977499927

Equity Tips , Intraday Stock Tips , FreeTrading Tips  , Sebi Registered advisory Company , Capitalstars Video Gallery,Free Trading tips , equity Tips , sebi registered advisory company , Mcx Tips  .