commodity market:With the reduction of turmeric production, its prices have increased
With the delayed monsoon and this year's low rainfall estimates, turmeric prices have reached a ten-month high.
Ajay Kedia, MD of Kedia Commodity, says that this year the production of turmeric in the producing areas is estimated to decline. The reason for this is that the farmers are turning to other crops, including cotton, due to not getting proper prices. Apart from this, Export Demand remains. On such Commodity Exchange, turmeric's June futures have been advised to buy around 7200. The turmeric futures can go up to 7500-7740 rupees per quintal till expiry of June deal.
Madhavi Arora, Research Analyst, Kotak Commodity, says that good quality turmeric supplies are low in the markets. Apart from this the demand is better. Due to this, prices of turmeric are increasing in spot markets. Apart from this, business activities are increasing in Sangli Mandi in Maharashtra, as compared to Erode, better quality turmeric is available in Sangli. In such a way, purchase the turmeric in June contracts on NCDEX around 7100-7150. In 15-20 sessions turmeric can cross Rs 7600.
According to the Ministry of Agriculture, production of turmeric is expected to be 11.49 lakh tonnes in 2018-19, compared to 11.33 lakh tonnes of turmeric in 2017-18. According to the Spice Board of India, the export of turmeric was 1.07 lakh tonnes during 2017-18.
For more information stock market company in Indore
With the delayed monsoon and this year's low rainfall estimates, turmeric prices have reached a ten-month high.
Ajay Kedia, MD of Kedia Commodity, says that this year the production of turmeric in the producing areas is estimated to decline. The reason for this is that the farmers are turning to other crops, including cotton, due to not getting proper prices. Apart from this, Export Demand remains. On such Commodity Exchange, turmeric's June futures have been advised to buy around 7200. The turmeric futures can go up to 7500-7740 rupees per quintal till expiry of June deal.
Madhavi Arora, Research Analyst, Kotak Commodity, says that good quality turmeric supplies are low in the markets. Apart from this the demand is better. Due to this, prices of turmeric are increasing in spot markets. Apart from this, business activities are increasing in Sangli Mandi in Maharashtra, as compared to Erode, better quality turmeric is available in Sangli. In such a way, purchase the turmeric in June contracts on NCDEX around 7100-7150. In 15-20 sessions turmeric can cross Rs 7600.
According to the Ministry of Agriculture, production of turmeric is expected to be 11.49 lakh tonnes in 2018-19, compared to 11.33 lakh tonnes of turmeric in 2017-18. According to the Spice Board of India, the export of turmeric was 1.07 lakh tonnes during 2017-18.
For more information stock market company in Indore
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