Feb 17, 2017 02:32 PM IST | Source: Moneycontrol.com

Expect Turmeric trade correct further on arrival pressure: Angel

According to Angel Commodities, Turmeric may trade correct further on arrival pressure from new season crop.

Expect Turmeric trade correct further on arrival pressure: Angel

Angel Commodities report on Turmeric

NCDEX Turmeric prices corrected due to profit booking on Thursday after jumped more than 2.1 % in the prior session. The uptrend is seen on the chart on improving domestic and upcountry demand. The exports have also improved as new season good quality crop may have hit the physical market.

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 correct further on arrival pressure from new season crop. However, improved domestic & export demand for the new season turmeric may support prices.

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