Commodity Tips: Turmeric Trading Range For The Day Is 7086-7502

Turmeric on NCDEX settled down by -1.36% at 7256 tracking weak demand in physical markets despite of an expectation of improvement in up country demand for new season crop. However downside seen limited following weak arrivals amid reports of lower output and due to poor crop prospects as sowing was down due to prevailing lower prices at the time of sowing.

 

Trading Ideas: 

 

* Turmeric trading range for the day is 7086-7502.

 

* Turmeric prices ended with losses tracking weak demand in physical markets despite of an expectation of improvement in up country demand for new season crop.

 

* Prices also seen supported following weak arrivals amid reports of lower output.

 

* Arrivals of new crop turmeric are limited at present in Nizamabad market.

 

* In Nizamabad, a major spot market in AP, the price ended at 7457.15 Rupees dropped -92.85 Rupees.

 

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Comments

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