Turmeric prices to trade sideways to down: Angel Commodities

Angel Commodities' report on Turmeric

Turmeric futures for Nov delivery closed lower on Tuesday on profit booking as market participants are expecting good production. The trend looks positive due to wet conditions in the southern peninsula which may affect the production. The export of turmeric is down by 16.4% to 41,517 tonnes for the first 4 month of FY 2017/18 compared to last years’ exports.  For  2017/18, turmeric sowing in Telangana,  this season  down 1.5% to  44,956 hectares as compared to last year acreage of 45,633  hectares.

Outlook
Turmeric futures expected to trade sideways to down as market is expecting good production of turmeric due to wet weather conditions in Telangana. Moreover, good demand from the institutional buyers may be positive for turmeric prices.

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