Turmeric trading range for the day is 10000-10828 - Kedia Advisory
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Turmeric
Turmeric trading range for the day is 10000-10828.
Turmeric dropped on profit booking after prices gained amid crop damage due to heavy rains and cyclones this year.
Turmeric crop was damaged in Maharashtra, Nizamabad in Telangana and Kadapa in Andhra Pradesh due to rains and cyclones.
The farmers, who incurred losses during this period due to low price, are hoping to get good price this year
In Nizamabad, a major spot market in AP, the price ended at 9322.8 Rupees dropped -5.65 Rupees.
Jeera
Jeera trading range for the day is 17510-18350.
Jeera gained on rain and hailstorm forecast in spices growing states of Rajasthan, Gujarat and Madhya Pradesh.
However, upside seen limited as better arrivals are expected in the spot market as the cumin production area in Gujarat is increasing rapidly.
Cumin exports declined by 1.4% year-on-year to 1.39 lakh tonnes in April-September but are expected to improve in the coming months.
In Unjha, a key spot market in Gujarat, jeera edged up by 249.35 Rupees to end at 16886.85 Rupees per 100 kg.
Dhaniya
Dhaniya trading range for the day is 9840-10408.
Dhaniya prices gained as the situation of shortage is visible in coriander in the current year.
The balance sheet is tight considering the production of 90 lakh bags of coriander and the demand of 1.25 to 1.30 crore bags
Spices Board pegs Apr-Sep coriander exports at 24,459 tn, down 13%
In Kota spot market in Rajasthan the prices gained 96.9 Rupees to end at 9360.65 Rupees per 100 kg.
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