Moneycontrol
May 17, 2017 12:27 PM IST | Source: Moneycontrol.com

Expect Turmeric to trade higher: Angel Commodities

According to Angel Commodities, Turmeric to trade sideways to higher on expectation of some good physical demand as prices has touched lowest for the contract.

Expect Turmeric to trade higher: Angel Commodities

Angel Commodities' report on Turmeric


NCDEX Turmeric closed lower on profit booking pressurized by steady demand in the physical market against higher stock levels. There was lower demand all season from industrial buyers. Turmeric arrivals in the country are lower in first 14 days of May at 28,212 tonnes compared to 69,452 tonnes during April (1-14), as per the Agmarknet data.


Outlook


Turmeric to trade sideways to higher on expectation of some good physical demand as prices has touched lowest for the contract. There is sufficient stocks and lower demand from the industry. The supplies have been lower due to lower prices and there is some increase in demand which may keep the prices supported.


For all commodities report, click here


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