Turmeric trading range for the day is 9014-9274 - Kedia Advisory
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Turmeric
Turmeric trading range for the day is 9014-9274.
Turmeric dropped as pressure seen amid poor demand for old stocks as traders wait for the new season of turmeric.
However, downside seen limited due to heavy rainfall, the minimum crop damage has gone to 40% to 50% in producing parts.
At the same time, the government estimates that turmeric production may be 1.11 million tonnes in 2020-21, which was 1.15 million tonnes a year ago.
In Nizamabad, a major spot market in AP, the price ended at 8057.9 Rupees gained 26.65 Rupees.
Jeera
Jeera trading range for the day is 16120-16490.
Jeera gained as domestic demand is now picking up also the export inquiries to support price.
Cumin exports declined by 1.4% year-on-year to 1.39 lakh tonnes in April-September
The area under cumin in Gujarat is only 1.71 lakh hectares as against 3 lakh hectares in the same period last year
In Unjha, a key spot market in Gujarat, jeera edged up by 86.35 Rupees to end at 16000 Rupees per 100 kg.
Dhaniya
Dhaniya trading range for the day is 8589-8889.
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 65.15 Rupees to end at 8876.4 Rupees per 100 kg.
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