Turmeric futures (May) is expected to crash further towards 6300-6200 levels
The arrivals of turmeric to all the markets in
Erode registered an increase. Due to higher arrivals, the price did not decrease. On the supply side, the new turmeric from Erode
area will arrive roughly by the end of April. Already for the past three months the Mysore and Dharmapuri new turmeric are arrivingfor sale and traders have purchased the same for their requirements. Further some good quality is also arriving for sale, so the
traders quoting increased price. Jeera futures (May) is likely to trade sideways in the range of 16400-16600 levels. The spot prices
in Unjha is trading at one month high, thanks to robust demand from China and Bangladesh. Prices are rising due to shift in
demand to India as output of major producers countries in the international market is seen lower. It is anticipated that Syrian
produce will be lowered this season due to crop loss resulted by heavy rains and Turkey crop pricing will be higher making Indian
crop a viable option for international traders. Good demand from China and Bangladesh, the top importers of the spice, is expected
to support prices. Coriander futures (May) is likely to take support near 7170 levels. Combination of low supply this year & export
demand from countries like Malaysia, UAE as well as Saudi Arabia may keep the price trend elevated.
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