Friday 28 June 2019

CAPITALSTARS FRIDAY TURMERIC FUTURES AGRI MARKET NEWS UPDATE 28 JUNE 2019

Turmeric Futures Edged Lower To Close At 6,298 Rupees Per 100 Kg On Thursday Due To Fresh Sell By The Market Participants.


Prices have breached 6,300 levels for the second time this week due to good rains in South peninsula and higher deliveries at Exchange. For June, about 3400 tonnes of delivery allocation is done till 21st June against 10 tonnes delivery last year. Turmeric exports during the month of March, up 25.5% y/y to 13,140 tonnes (Vs 10,473 t), as per govt data. 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.

Turmeric futures expected to trade under pressure on higher stocks with traders and farmers. Moreover, good progress to monsoon rains in Turmeric growing areas may pressurize prices further as season progresses.

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2 comments:

  1. All Information7 October 2019 at 10:27

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