Turmeric trading range for the day is 8392-9420 - Kedia Advisory
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Turmeric
Turmeric trading range for the day is 8392-9420.
Turmeric dropped as the arrival of the new crop has started in the markets of Telangana and Maharashtra
Pressure seen due to tensions between Ukraine and Russia which may disrupt shipments of spices to Europe and other destinations.
In the first 7 months (April-October) of the financial year 2021-22, exports declined by 23% to 89,850 tonnes over the previous year.
In Nizamabad, a major spot market in AP, the price ended at 9002.8 Rupees dropped -59.7 Rupees.
Jeera
Jeera trading range for the day is 19120-21650.
Jeera gained as area under jeera has decreased by about 30% in Rajasthan this year, to 5.39 lakh hectares (lh) from 7.7 lh last year
However upside seen limited due to tensions between Ukraine and Russia which may disrupt shipments of spices to Europe and other destinations.
In Gujarat, the area has decreased to 3.40 lh from 4.70 lh last year.
In Unjha, a key spot market in Gujarat, jeera edged down by -68.7 Rupees to end at 20294.45 Rupees per 100 kg.
Dhaniya
Dhaniya trading range for the day is 10171-11243.
Dhaniya prices gained on lower-than-normal acreage and fears of production shortfall due to cold wave in North India.
Coriander sowing is completed and sowing area is reported down by 10 – 15% compared to last year.
Exports during the April-December period declined by 13% to 37,500 tonnes from 43,100 tonnes last year, but 11% higher than the 5-year average.
In Kota spot market in Rajasthan the prices dropped -72 Rupees to end at 10245 Rupees per 100 kg.
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