In turmeric futures (May), consolidation with a downside bias can be seen in a broader range of 6250-6450.
On the spotmarkets, the arrival of turmeric is in steady position. For the past two days the arrival for sale has crossed five thousand bags. The
traders those who received fresh upcountry demand have started buying the turmeric only for their requirements. Further, the
traders are buying some quantity of turmeric from other markets like Nizamabad for their requirements. The bull-run is likely to
prevail in jeera futures (May) and in days to come it may test 17200-17300 levels. 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) is trapped in the range
of 7050-7250 since past two weeks. This commodity is seeing selling pressure from higher levels, while on the contrary also
witnessing buying on dips. However, the overall bias is positive amidst due to concerns of output & is expected to take support
near 7000 levels. Cardamom futures (May) is expected to take support near 1625 levels. Tight supply and a drop in output has
seen the average prices of cardamom at the Bodinayakanur (Tamil Nadu) auctions touch a new high of Rs.1,752/kg.
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