Buy Turmeric Aug @ 17200 SL 16800 TGT 17600-17900. NCDEX - Kedia Advisory
Jeera
Observations
Jeera trading range for the day is 28490-29650.
Jeera dropped as the expectation of higher production could weigh on the prices.
China's cumin output soared to over 55-60 thousand tons from the previous 28-30 thousand tons.
Turkey anticipates producing 12-15 thousand tons, while Afghanistan's output could double.
In Unjha, a major spot market, the price ended at 29197 Rupees dropped by -0.06 percent.
SELL JEERA JUL @ 29400 SL 29800 TGT 28800-28500. NCDEX
Dhaniya
Observations
Dhaniya trading range for the day is 7284-7496.
Dhaniya gains on short covering after prices dropped due to good arrivals
Daily arrival of 40000 bags witnessed in Ramganj mandi and around 20000 to 30000 bags coming in Kota.
Traders are reporting decline in yield highlighting the challenges faced in coriander cultivation
In Gondal, a major spot market, the price ended at 7466 Rupees dropped by -0.15 percent.
BUY DHANIYA JUL @ 7350 SL 7250 TGT 7450-7550. NCDEX
Turmeric
Observations
Turmeric trading range for the day is 16942-18010.
Turmeric prices dropped amid increase in supplies at the end of harvesting season.
The current heat wave could severely damage the crop yield, further contributing to the supply crunch.
The Ministry of Agriculture first advance estimate for turmeric production in 2023-24 is estimated at 10.74 lakh tonnes
In Nizamabad, a major spot market, the price ended at 17835.6 Rupees dropped by -0.47 percent.
BUY TURMERIC AUG @ 17200 SL 16800 TGT 17600-17900. NCDEX
