Turmeric prices at spot markets are likely to remain firm on limited arrivals and good demand from stockiest and exporters
New crop arrivals from Nizamabad and other adjoining areas almost 80 percent completed. At the same time new crop arrivals from Warangal and Cuddappah is slow as farmers not convinced of recent prices.
In contrast arrivals from Maharashtra market were higher at around 1.5 lakh bags in the last two weeks. Exports may pick to Middle East countries post-Ramzan festival.
As per trade sources, turmeric exports in Feb-2019 totaled 8454 tons an increase of about 5.5 percent as against 8000 tons exported during Feb-2018.
Farmers as well traders were closely watching how the south west monsoon rain is going to unfold as any prolonged delay in rainfall may keep the price on the higher side.
For NCDEX June contract Support is 6645 and resistance 7437.
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