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.
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.
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.
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