Turmeric futures (June) will probably trade with an upside bias in the range 6870- 7000 levels.
In Maharashtra, the sowing is likely to get delayed by 20-25 days due
to water scarcity in key growing areas. The market participants would also keep a
watch on the sowing progress in the areas of Telangana, which will begin from Jun
10. Jeera futures (June) is expected to trade with an upside bias & test 18000
levels. The sentiments of the traders at the spot markets are positive due to heavy
purchases being made by the exporters and wholesalers. Good news for India's
cumin exporters is that its yield in Syria will be lower this year & the crop usually
comes in the middle of June. This means that overseas demand for cumin seeds
from India can remain strong in the foreign market for the coming few months.
Cardamom futures trend is bullish on account of crop losses over last couple of
years & expectation of decline in arrivals in the coming days. A likely delay of
around two months in the new harvest season and lower output view in the coming
2019-20 (Jul-Jun) season further raised concern over supply. According to market
estimates, the cardamom crop may fall to 7,000-8,000 tn in 2019-20 (Jul-Jun), the
lowest in two decades. Hence, in days to come it may test 2600 levels. Dhaniya
futures (June) is likely to trade with a negative bias & test 7000, if breaks the
support near 7100 levels. The reason being is the increasing stock at exchangeaccredited warehouses of 5007 tons as on 30th May, higher by 59% since the
beginning of last month.
Click here to visit my website : https://bit.ly/1h8KZUM
Free Trial link : https://bit.ly/2u2GUhK
Any queries CALL US : 9977499927
CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY -
Visit our website : http://www.capitalstars.com/free-trial
CAPITALSTARS CALL US : 9977499927
0 comments:
Post a Comment