Monday, 30 January 2017

Turmeric Market News Update

Turmeric on NCDEX settled down -1.15% at 6698 on expectation of better supplies of new turmeric crops from the producing belts. However, some losses were capped on anticipation of rising upcountry demand at the spot market. In Sangli (Maharashtra), new Turmeric crop coming to the market with small quantity around 450 bags (1 bag = 70kgs), for new crop price quoted in a range of Rs.6800 - Rs.8000/qtl depends on quality and variety.

Turmeric crop reported well in Maharashtra state expected better production compared to last year. As per trade information, from Karnataka Belgaum district new Turmeric will come to the market from February first week.In Nizamabad major growing regions Turmeric standing crop also reported well. As per production estimate, Turmeric production reported higher by around 7.5% during current year. 

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Trading Ideas:

Turmeric trading range for the day is 6584-6848. Turmeric prices dropped on expectation of better supplies of new turmeric crops from the producing belts. In Sangli (Maharashtra), new Turmeric crop coming to the market with small quantity around 450 bags. 

As per sources, from Karnataka Belgaum district new Turmeric will come to the market from February first week. 

In Nizamabad, a major spot market in AP, the price ended at 7397.35 Rupees remains unchanged at0 Rupees. 

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