FREE TUMERIC TIPS 29-12-2016
Turmeric on NCDEX settled down by -0.15% at 6782 on expectations of increasing production in coming harvesting season at the producing belts. Turmeric crop is pest free this year. The availability of good quality is quitelow and crop arriving currently is of medium to low quality. Next year crop is expected to be higher which is keeping stockiest at bay. On the export front, country exported about 51,147 tonnes of turmeric during AprilSeptember period, up by 27% to 58,233 tonnes compared last year, as per government data. 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 Nizamabad market estimated market supply was at 1000 quintals, lower by 500 quintals as against previous day. At Warangal market total arrivals are at 100 bags, lower by 50 bags from previous trading day. Spot turmeric prices decreased at Erode markets on poor quality arrivals. Buyers purchased both the varieties for their local supply. The farmers brought limited low quality produce to liquidate their stock. Of the arrivals of 1,480 bags, 70 per cent were sold. The finger variety decreased by Rs. 300 a quintal, while the root variety lost Rs. 250. In Nizamabad, a major spot market in AP, the price ended at 7616.65 rupees dropped -19.05 rupees.Technically market is under long liquidation as market has witnessed drop in open interest by -0.19% to settled at 13010 while prices down -10 rupee, now Turmeric is getting support at 6738 and below same could see a test of 6696 level, And resistance is now likely to be seen at 6824, a move above could see prices testing 6868.
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Turmeric on NCDEX settled down by -0.15% at 6782 on expectations of increasing production in coming harvesting season at the producing belts. Turmeric crop is pest free this year. The availability of good quality is quitelow and crop arriving currently is of medium to low quality. Next year crop is expected to be higher which is keeping stockiest at bay. On the export front, country exported about 51,147 tonnes of turmeric during AprilSeptember period, up by 27% to 58,233 tonnes compared last year, as per government data. 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 Nizamabad market estimated market supply was at 1000 quintals, lower by 500 quintals as against previous day. At Warangal market total arrivals are at 100 bags, lower by 50 bags from previous trading day. Spot turmeric prices decreased at Erode markets on poor quality arrivals. Buyers purchased both the varieties for their local supply. The farmers brought limited low quality produce to liquidate their stock. Of the arrivals of 1,480 bags, 70 per cent were sold. The finger variety decreased by Rs. 300 a quintal, while the root variety lost Rs. 250. In Nizamabad, a major spot market in AP, the price ended at 7616.65 rupees dropped -19.05 rupees.Technically market is under long liquidation as market has witnessed drop in open interest by -0.19% to settled at 13010 while prices down -10 rupee, now Turmeric is getting support at 6738 and below same could see a test of 6696 level, And resistance is now likely to be seen at 6824, a move above could see prices testing 6868.
