Turmeric trading range for the day is 6212-6720 - Kedia Advisory
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TURMERIC
Turmeric trading range for the day is 6212-6720.
Turmeric dropped due to excess stocks which will be 50-60% of the excess in the current year as carry forward in the next year.
However downside seen limited amid expectation of decrease in Turmeric sown area across Nizamabad and Marathwada regions.
Covid-19 raised expectations regarding the consumption of turmeric as a body immune enhancer, but it did not last long
In Nizamabad, a major spot market in AP, the price ended at 6309.1 Rupees gained 3.55 Rupees.
JEERA
Jeera trading range for the day is 12895-13495.
Jeera dropped as the season progresses in Gujarat, the increase in Rabi sowing continues.c
Prices are likely to decline due to a reduction in export demand amidst substantial carryover stocks.
There has also been a decrease in demand from domestic stockists as the arrival of new crops is awaiting in the market.
In Unjha, a key spot market in Gujarat, jeera edged down by -40.6 Rupees to end at 13105.55 Rupees per 100 kg.
DHANIYA
Dhaniya trading range for the day is 5995-6247.
Dhaniya dropped on profit booking after prices gained as domestic and export demand improved as vaccine hits market and sentiments improved.
Pressure also seen amid rising freight rates that can impact export
Indian exports inquires gained in past 1 week period while no concerns are there on exports
In Kota spot market in Rajasthan the prices gained 2.1 Rupees to end at 6000 Rupees per 100 kg.
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