Turmeric futures (May) is likely to trade higher & test 6650-6700 levels.
On the spot markets, both the price of turmeric
and arrivals increased on Thursday. Usually, when the arrival of turmeric increases traders will quote a lower price and purchase
the same. The arrival in all the markets has increased and totally 7,200 bags arrived for sale on Thursday. Traders, after examining
the samples, quoted higher prices and purchased the same. This is due to the demand received by traders and also the quality.
The bull-run is likely to prevail in jeera futures (May) as it may take support near 16950 levels & trade with an upside bias. The
increase is attributed to peak in export demand. March and April are the prominent period for cumin exports from India. In the
present scenario, we are witnessing a shift in demand to India as output in major producers Syria and Turkey is seen lower.
Shortages in the international market have given the Indian exporters an edge to become the sole suppliers & become a price
setter. Coriander futures (May) trend has turned positive & will possibly trade on a steadier note taking support above 7400 levels.
This season there are concerns of output. Cardamom futures (May) is expected to test 1835-1850 levels on the higher side. Rising
demand and a plunge in output may drive small cardamom prices to record level this year. The average prices crossed Rs 1,800
per kg on Wednesday while the premium variety touched Rs 2,000 per kg. The local prices have been ruling above Rs 1,200 per
kg for several months.
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