Turmeric settled down -1.15% at 9788 as pressure seen due to profit booking after prices seen supported due to persistent rains in south peninsula since last two weeks may damage turmeric crop in Tamilnadu and Karnataka.
However, rains recorded in Telangana and Andhra Pradesh may enhance the production of Turmeric. Turmeric crop in Maharashtra is experiencing moisture stress in some parts.
As per dept of commerce data, turmeric exports during April-Aug, 2015 pegged at 38,774 tonnes while the export for the 2014-15 is 90,738 tonnes compared to 78,360 tonnes in FY14.
As on latest sowing data, turmeric sowing In AP, is recorded at 15,864 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. Spot turmeric prices increased at Erode markets on demand.
Trading Ideas:
Turmeric trading range for the day is 9642-10026.
Turmeric dropped as pressure seen due to profit booking after prices seen supported due to persistent rains in south peninsula since may damage turmeric crop.
However, rains recorded in Telangana and Andhra Pradesh may enhance the production of Turmeric.
NCDEX accredited warehouses turmeric stocks dropped by 30 tonnes to 5520 tonnes.
In Nizamabad, a major spot market in AP, the price ended at 9787.5 rupees remains unchanged at0 rupees.
Marketmagnify provide tips and advices to our clients by sms/calls/chat. We have dedicated team of analysts and we are providing reliable and valuable tips on stock, commodities. We believe in our customer satisfaction by giving them successful results.We provide high accurate Mcx Tips at very reasonable price to help small traders and investors to make decent money. Fill OUR FREE TRIAL We cover all types of services all segment.
Trading Ideas:
Turmeric trading range for the day is 9642-10026.
Turmeric dropped as pressure seen due to profit booking after prices seen supported due to persistent rains in south peninsula since may damage turmeric crop.
However, rains recorded in Telangana and Andhra Pradesh may enhance the production of Turmeric.
NCDEX accredited warehouses turmeric stocks dropped by 30 tonnes to 5520 tonnes.
In Nizamabad, a major spot market in AP, the price ended at 9787.5 rupees remains unchanged at0 rupees.
Marketmagnify provide tips and advices to our clients by sms/calls/chat. We have dedicated team of analysts and we are providing reliable and valuable tips on stock, commodities. We believe in our customer satisfaction by giving them successful results.We provide high accurate Mcx Tips at very reasonable price to help small traders and investors to make decent money. Fill OUR FREE TRIAL We cover all types of services all segment.
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