Prices of turmeric futures (October) prices are likely to be retained.

MCX Service

Turmeric prices may have to face hindrances at the level of 6,675-6,765. Due to the weakening of domestic and local demand, spot prices are declining in the yard markets. Prices of Finger Variety have declined by Rs. 100 per quintal in the erod Terminal Merchants Association Sales Yard and Regulated Market Committee, but the price of Root Variety has fallen by Rs. 500 per quintal in the Irod Co-operative Marketing Society and the Regulated Market Committee The price of Root Variety has dropped by Rs 300 per quintal.

Prices of cumin futures (October) can be increased to Rs 20,200-20,300. China and Bangladesh are importing sporadically from India. Vietnam is also being imported. In countries like Syria and Turkey, due to bad weather this year, due to low supply of cumin, India has a monopoly on the export of cumin seed. With the weakening of the Indian rupee, exports are being encouraged.

Prices of cardamom futures (October) can be supported at the level of Rs 1,365 and prices are expected to remain strong. The availability of cardamom in the coming days may reduce the availability of crops due to frequent rainfall and floods in Kerala due to crop damage.

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