Turmeric trading range for the day is 9632-10160 - Kedia Advisory
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Turmeric
Turmeric trading range for the day is 9632-10160.
Turmeric prices dropped on profit booking as the arrival of the new crop has started in the markets of Telangana and Maharashtra.
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, but higher by 6.5% over the 5-year average.
Turmeric crop was damaged in Maharashtra, Nizamabad in Telangana and Kadapa in Andhra Pradesh due to rains and cyclones.
In Nizamabad, a major spot market in AP, the price ended at 9430 Rupees dropped -15.25 Rupees.
Jeera
Jeera trading range for the day is 18910-19830.
Jeera dropped on profit booking as the export of cumin seeds declined by 20% year-on-year to 1.61 lakh tonnes in April-November
Rise in export demand, the decline in the 2020-21 production as well as carryover stock estimates kept trade sentiments strong.
Market is expecting the overall area under Jeera to reduce by 50% for next marketing year
In Unjha, a key spot market in Gujarat, jeera edged down by -22.8 Rupees to end at 19062.5 Rupees per 100 kg.
Dhaniya
Dhaniya trading range for the day is 9733-10257.
Dhaniya dropped on profit booking after prices gained in recent sessions as the situation of shortage is visible in coriander in the current year.
Coriander sowing is completed and sowing area is reported down by 10 – 15% compared to last year.
India’s cumulative exports for the period from April to October 2021 have stood at 0.29 lakh tonnes, less by 13%.
In Kota spot market in Rajasthan the prices dropped -25.2 Rupees to end at 9573.7 Rupees per 100 kg.
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