Turmeric may trade higher on anticipation: Angel Commodities
According to Angel Commodities, Turmeric may trade higher on anticipation of lower level buying. The supplies of turmeric from new season increase many fold in current month compared to last month.
Angel Commodities' report on Turmeric
NCDEX Turmeric continues to trade lower on Monday due higher arrivals and lower demand physical demand. The demand for the new season turmeric in recent weeks is lower. The turmeric arrivals in the country are higher at 115,205 tonnes during Mar 1- 20 compared to 30,945 tonnes during previous month, as per the Agmarknet data.
On the export front, country exported about 82,115 tonnes during April-Dec period, up by 28% compared to last year exports of 64,105 tonnes, as per government data.
Turmeric may trade higher on anticipation of lower level buying. The supplies of turmeric from new season increase many fold in current month compared to last month. The upcountry and spot demand is also steady and not picking up as expected.
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