Turmeric Trading & Market update

Discussion in 'Softs' started by jack2k1, Sep 18, 2015.

  1. jack2k1

    jack2k1 Member

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    Turmeric Trading and Market update with will give general idea about how the prices would move please dont completely depend on this do your own ground work would build confidence.

    Turmeric update.:cool:
    Turmeric futures extended weakness due to rain in Tamil Nadu and some parts of Andhra Pradesh, easing concerns of
    lower yield. Still, the prices are expected to trade higher due to prospects of rise in demand from overseas market and low output
    estimates. Telangana, the major turmeric producing state was lagging the year ago sowing level due to deficient rainfall. Turmeric acreage
    in Telangana was at 40830 ha as on 09th Sep 2015, compared with 44623 ha a year ago, according to latest data from the state's agriculture
    department. The normal area for turmeric as on date in the state is 49691 ha. Tamil Nadu, Andhra Pradesh, Karnataka and Maharashtra are
    the other major turmeric producers also facing huge rain deficits. As per trade source, turmeric area in Andhra Pradesh has recently risen to
    around 11700 ha from the year ago level of 10300 ha, but the yield there still remains a concern. Conversely, there are reports that Erode is
    likely to compensate for the declines in other areas due to good irrigation facilities in the district. Another dampener for the bulls would be
    abuzz of ample carryover stocks.
    Daily Weather in Major Turmeric Producing Areas: Rainfall occurred at most places over Karnataka, Odisha, Telangana,
    Kerala and Maharashtra and at a few places over Andhra Pradesh. Isolated rainfall occurred over Tamil Nadu. On Friday, heavy rain or
    thundershowers would occur at most places over Karnataka, Andhra Pradesh, Telangana, Maharashtra, Odisha and Kerala. Isolated rain or
    thundershowers may occur over Tamil Nadu.
     
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