NCDEX TURMERIC UPDATE

Turmeric prices gained due to arrival of good quality turmeric at the spot market and expectations of higher demand from upcountry exporters ahead of festival season. 

However upside seen limited amid higher production due to good rains in second part of September in southern peninsula region. 

Good rains in second part of September in southern peninsula region may enhance the turmeric production and quality. 

Turmeric sowing In AP, is recorded at 15,753 hectares increase over last years’ acreage as well normal sowing area progress however in Telangana, the sowing area is lower than the normal sowing area at 40,823 hac compared to 43,470 hac last year. 

At Duggirala market estimated market supply was at 290 quintals, up by 189 quintals from previous day’s arrivals.

Trading Ideas:
Turmeric trading range for the day is 8076-8404.
Turmeric prices gained due to arrival of good quality turmeric at the spot market and expectations of higher demand.
However upside seen limited amid higher production due to good rains in second part of September in southern peninsula region.
NCDEX accredited warehouses turmeric stocks dropped by 745 tonnes to 9374 tonnes.
In Nizamabad, a major spot market in AP, the price ended at 8185 rupees remains unchanged at0 rupees.


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