Fundamental information on Turmeric-Bearish

#1
Physical market news:
 Poor sales brought down spot turmeric by Rs 200 a quintal on Wednesday.
 Incessant rains in rural parts here prevented farmers from coming to markets and traders, despite
having orders, avoided purchases as rains will make it difficult to clean, pack and send the produce to
North Indian traders, said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
Only 30 to 35 per cent of the goods was sold, he said.
 Prices may fall next week onwards as farmers who have more than ten lakh bags will offload, traders
said.
 The carry forward stock is expected to be around 15 lakh bags compared to 1 lakh bags last year.
 As per the trade sources the expected crop for next year is around 82 lakh bags.
 Turmeric Exports for the 1st quarter of 2011-12 were at 21,775 MT as against 15,000 MT
for the same period of 2010-11.
 

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