FREE COMMODITY TURMERIC NEWS 02-01-17
Turmeric on NCDEX settled down -0.62% at 6762 due to the arrivals of inferior quality turmeric from the producing belts. 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 at higher levels. Turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared last year. At Salem market estimated market supply was at 1 quintal, unchanged as compared to previous day’s arrival. At Sangli market, arrivals were reported at 5400 quintals, up by 5400 quintals from previous trading day. At Duggirala market, sources reported arrivals at 594 quintals, lower by 123 quintals from
previous day’s arrivals. The Regulated Marketing Committee at Erode received 10 bags of new Mysore 8 variety finger turmeric today for sale. The buyers, though it is of inferior quality, purchased all the ten bags for Rs. 5,500 a quintal. The arrivals increased to 2,600 bags and buyers were keen on getting medium variety turmeric. They purchased 1,800 bags to fulfil their local orders. At the Erode Turmeric Merchants Association, the finger variety was sold at Rs. 5,556-9,209 a quintal; the root variety Rs. 5,506-8,079. Of the arrival of 1,722 bags, 800 were sold. Technically market is under fresh selling as market has witnessed gain in open interest by 0.85% to settled at 13115 while prices down -42 rupee, now Turmeric is getting support at 6731 and below same could see a test of 6701 level, And resistance is now likely to be seen at 6801, a move above could see prices testing
6841.
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previous day’s arrivals. The Regulated Marketing Committee at Erode received 10 bags of new Mysore 8 variety finger turmeric today for sale. The buyers, though it is of inferior quality, purchased all the ten bags for Rs. 5,500 a quintal. The arrivals increased to 2,600 bags and buyers were keen on getting medium variety turmeric. They purchased 1,800 bags to fulfil their local orders. At the Erode Turmeric Merchants Association, the finger variety was sold at Rs. 5,556-9,209 a quintal; the root variety Rs. 5,506-8,079. Of the arrival of 1,722 bags, 800 were sold. Technically market is under fresh selling as market has witnessed gain in open interest by 0.85% to settled at 13115 while prices down -42 rupee, now Turmeric is getting support at 6731 and below same could see a test of 6701 level, And resistance is now likely to be seen at 6801, a move above could see prices testing
6841.
