FREE COMMODITY TURMERIC NEWS 30-12-2106
Turmeric on NCDEX settled up by 0.32% at 6804 on short covering after prices dropped amid reports on abundant production of the crop this year in the major producing regions as the cyclonic rains have not damaged the standing crop. Expectations of increasing production in coming harvesting season and lowering export demand in recent months are putting pressure on turmeric prices at higher levels. Turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared last year. At Duggirala market, sources reported arrivals at 1539 quintals, up by 1199 quintals from previous day’s arrivals. At Nizamabad market, estimated market supply was at 1000 quintals, lower by 500 quintals as against previous day. Spot prices of turmeric improved at Erode markets as the buyers purchased quality finger variety turmeric. Though the traders have not yet received any fresh upcountry demand, they are buying the finger turmeric for their local supply. Around 3,200 bags that arrived for sale, 60 per cent were sold. The price of the turmeric is stable in the futures. The price of the finger turmeric reached Rs. 9,000 a quintal and more than 76 per cent of the arrived finger turmeric sold. Regarding the price, the finger variety increased by Rs. 120-290 a quintal and that of the root variety by Rs. 100. At the Erode Turmeric Merchants Association, the finger turmeric went for Rs. 5,434-9,008 a quintal and the root variety at Rs. 5,134-8,131. Of the arrival of 1,764 bags, 780 were sold. In Nizamabad, a major spot market in AP, the price ended at 7616.65 rupees remains unchanged at0 rupees.Technically now Turmeric is getting support at 6764 and below same could see a test of 6722 level, And resistance is now likely to be seen at 6834, a move above could see prices testing 6862.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
Turmeric on NCDEX settled up by 0.32% at 6804 on short covering after prices dropped amid reports on abundant production of the crop this year in the major producing regions as the cyclonic rains have not damaged the standing crop. Expectations of increasing production in coming harvesting season and lowering export demand in recent months are putting pressure on turmeric prices at higher levels. Turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared last year. At Duggirala market, sources reported arrivals at 1539 quintals, up by 1199 quintals from previous day’s arrivals. At Nizamabad market, estimated market supply was at 1000 quintals, lower by 500 quintals as against previous day. Spot prices of turmeric improved at Erode markets as the buyers purchased quality finger variety turmeric. Though the traders have not yet received any fresh upcountry demand, they are buying the finger turmeric for their local supply. Around 3,200 bags that arrived for sale, 60 per cent were sold. The price of the turmeric is stable in the futures. The price of the finger turmeric reached Rs. 9,000 a quintal and more than 76 per cent of the arrived finger turmeric sold. Regarding the price, the finger variety increased by Rs. 120-290 a quintal and that of the root variety by Rs. 100. At the Erode Turmeric Merchants Association, the finger turmeric went for Rs. 5,434-9,008 a quintal and the root variety at Rs. 5,134-8,131. Of the arrival of 1,764 bags, 780 were sold. In Nizamabad, a major spot market in AP, the price ended at 7616.65 rupees remains unchanged at0 rupees.Technically now Turmeric is getting support at 6764 and below same could see a test of 6722 level, And resistance is now likely to be seen at 6834, a move above could see prices testing 6862.
