Angel Commodities report on Turmeric
Turmeric futures closed higher yesterday as arrivals have dip at south Indian markets including Erode. The price trend is looking mostly sideways as market participants anticipating good sowing in next season on forecast of good rains. The Jun delivery contract on NCDEX close d 0.77 % high to settle at Rs 8,148 per quintal.
We expect turmeric prices to trade higher as sup plies have been limited and demand may rise. Turmeric supplies are slowing down, as farmers are not ready to sell at lower prices. Good demand from traders and stockists may keep the prices supportive.