MUMBAI (Commoditiescontrol) - Turmeric arrivals in Nizamabad, Sangli and Erode market during 29 th April to 03 rd May 2019,stood at 129,874 bags. Also, the arrivals were witnessed higher in Cudapa and Duggirala markets.
Duggirala market received an average of 2000 bags per day. While, the Nizamabad market received 37,000 bags. The market remained closed on 30 th April and 01 st May 2019. Price during the week witnessed a slight increase by INR 100-150 per quintal.
Most of the stockists bought their requirements during peak season at season’s lower price levels. At present, buying is not much effective. For next week, we can expect the price of Nizamabad turmeric to remain range bound from the current levels. At present, the price of Finger unpolished variety is INR 48-65 per kg levels and model price if around INR 59-60 per kg levels.
During the week, Erode market received 25,828 bags. Superior quality of Finger variety attracted the price of INR 80-82 per kg levels on the higher side. In outer Erode surroundings (some of the blocks), harvest is going on at present which may sustain the same level of arrival pressure in coming week in Erode market.
Turmeric arrivals in sangli market during the week stood at 67,046 bags. Still, the arrival pressure is prevailing in Sangli market. It may decline in coming days post 10 th May 2019. Export demand for Sangli Rajapore finger variety is reported well from European countries. During the week, the price of turmeric in Sangli remained steady.
NCDEX Turmeric---June-2019
Last week range 6640 and 6440, settled the week around 6510
Turmeric future price may stay range bound and yet to confirm clear trend
Support-6350-6300 and only below to signal further weakness
Upside for the time being capped in the region of 6600 and 6700
(By Commoditiescontrol Bureau)
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