Turmeric futures (Apr) is expected to face resistance near 6500 levels.
CAPITALSTARS INVESTMENT ADVISOR
All the turmeric markets will be closed for nine days
till April 7th. Beforehand last week, the buyer traders have purchased all the good quality turmeric for their demand and some
traders have decided to store few bags of best quality turmeric. Also, the stockiest are very cautious in buying the turmeric as they
feel at present the price may not be improved. On the supply side, the arrival for Erode markets is very low when compared to very
heavy arrival of turmeric at Nizamabad. At present Mysore and Dharmapuri turmeric is arriving for sale. Jeera futures (Apr) will
possibly rally upto 16200 levels. This rally is getting fueled by prospects that India's jeera exports in 2018-19 (Apr-Mar) are
estimated to rise 4.4% to about 150,000 tn. The fall in output in Syria and Turkey on account of loss of quality due to weather
adversities will possibly make India the sole supplier in the international market. So far this quarter, most export deals for Indian
jeera have been struck in a range of $2,000-$2,100 per tn. Coriander futures (Apr) trend is bullish & will possibly test 7300 levels.
The reason being is because of strong demand for the new crop which is of superior quality. Arrivals of coriander with ideal
moisture content of 8-10% have begun, and this had led to a rise in demand.
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