Jan 11, 2017 01:21 PM IST IST | Source: Moneycontrol.com
Turmeric prices may trade down: Angel Commodities
According to Angel Commodities, Turmeric may trade down on anticipation of steady physical demand as new season turmeric is hitting the physical market but the supply is mostly of medium quality.
Angel Commodities report on Turmeric
Turmeric futures traded lower on Tuesday as new season turmeric crop has now entered into the markets in South India. The new crop is of medium quality which is fetching lower prices. On the export front, country exported about 51,147 tonnes of turmeric during April-September period, up by 27% to 58,233 tonnes compared last year, as per government data.
Expectations of increasing production in coming harvesting season and lowering export demand in recent months are putting pressure on turmeric prices.
Turmeric may trade down on anticipation of steady physical demand as new season turmeric is hitting the physical market but the supply is mostly of medium quality.
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