Moneycontrol
Feb 15, 2017 11:52 AM IST | Source: Moneycontrol.com

Expect Turmeric to trade sideways: Angel Commodities

According to Angel Commodities, Turmeric may trade sideways on arrival pressure from new season crop while improved domestic & export demand may keep the prices in a range.

Expect Turmeric to trade sideways: Angel Commodities


Angel Commodities report on Turmeric


Turmeric futures closed higher on Tuesday due to bargain buying despite weak spot market. The supplies are improving and there is good demand for the new season crop too. The harvesting is going on in key producing states – Maharashtra, Tamilnadu and Karnataka.


On the export front, country exported about 74,524 tonnes; up by 32% during April-Nov period compared last year exports of 56,471 tonnes, as per government data.


Outlook


Turmeric may trade sideways on arrival pressure from new season crop while improved domestic & export demand may keep the prices in a range.

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