Prices of turmeric futures (April) are likely to be supported at the level of Rs 6,345 and prices can reach level of Rs 6,500-6,550.
In the spot markets, the arrival of new turmeric has increased and sales have increased. Of the 4,000 bags coming out yesterday, 3,500 bags of new turmeric were made, out of which 85% turmeric was sold. Traders have got some new orders, which they are buying to fulfill.
Prices of cumin futures (April) are likely to hamper at Rs 15,700 level. Due to better production estimates in 2018-19 (July-June), prices may remain limited while there is no major change in demand. In present time, the cumin seed is getting an average 30,000 bags (1 bag of 55 kg) and there is a possibility of an increase in arrivals in the coming days. In Gujarat this year, due to lack of production, there is a possibility of more production from Rajasthan. In Rajasthan, the production of cumin is expected to increase to 494 kilograms of hectare compared to 489 kilo kilo hectare of last year, whereas in Gujarat, the cumulative yield of cumin has increased from 520 kilograms per hectare last year to 529 kg Estimate of living ha. In addition carriage stock is estimated to be around 10-15 lakh bags, which can keep pressure on prices.
Prices of coriander futures (April) are likely to be bullish and prices are expected to register an increase of Rs 6,700. Good quality has started in new markets
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