CAPITALSTARS FRIDAY TURMERIC FUTURES AGRI MARKET NEWS UPDATE 14 June 2019

Turmeric prices are trading weak at major markets

 CAPITALSTARS INVESTMENT ADVISOR

The prices have corrected after climb to the 2019 high of 7,360 levels due to sufficient availability of turmeric with the farmers. The improving export demand and forecast of below normal rains in the turmeric growing areas of the country may support prices as season progresses. As per Commerce Ministry, turmeric exports during the month of March, up 25.5% y/y to 13,140 tonnes (Vs 10,473 t). While, turmeric exports in 2018/19 is up by 19.2% compared to last year. Country exported about 1.33 lakh tonnes of turmeric in FY 18-19 compared to 1.11 lt last year. In 2018/19, production is forecast at 10.77 lt in the 3rd advance estimates by the government.

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