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Jeera

Observations

Jeeraunjha trading range for the day is 58350-60690

Jeera dropped on profit booking after prices gained amid less stock and good demand.

Traders are avoiding bulk buying in anticipation of rise in seasonal supply of jeera in Gujarat and Rajasthan.

The market is expecting a lower yield and quality of jeera this season

In May 2023 around 25,903.63 tonnes of jeera was exported as against 17,084.87 tonnes in April 2023 showing a rise of 51.52%.

BUY JEERA Aug 2023 @ 59200 SL 58700 TGT 59900-60400. NCDEX

Dhaniya

Dhaniya trading range for the day is 6846-7026

Dhaniya gained amid improved export demand but forecast of drier weather in Rajasthan will lead to rise in supplies.

Supplies are improving in Rajasthan, likely to witness bumper production in current year.

Carry over stocks of old coriander is around 5-6 lakh bags is estimated to remain

In May 2023 around 25,446.27 tonnes of dhaniya was exported as against 11,486.60 tonnes in April 2023 showing a rise of 121.53%.

BUY DHANIYA Aug 2023 @ 6900 SL 6800 TGT 7000-7100. MCX

Turmeric

Observations

TMCFGRNZM trading range for the day is 10432-11460

Turmeric prices touched 11180 levels, the highest level since Dec 2010

However, upside were limited with forecast of good rainfall in Telangana and Maharashtra that will boost the ongoing sowing activities

Supplies in Maharashtra and Telangana are likely to increase as farmers are getting fair realization on their produce.

In May 2023 around 19,827.86 tonnes of turmeric was exported as against 19,590.87 tonnes in April 2023 showing a rise of 1.21%.

BUY TURMERIC Aug 2023 @ 10800 SL 10600 TGT 11100-11300. NCDEX

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