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Turmeric prices to trade sideways to higher: Angel Commodities – Moneycontrol.com

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Angel Commodities’ commodity report on Turmeric

NCDEX Turmeric closes higher last week as the physical demand is rising and market arrivals are diminishing. However, the trend seems to be little sideways on reports of good rains in turmeric growing areas. There was lower demand all season from up country and industrial buyers. Turmeric arrivals in the country are higher in the month of May.  As per Agmarknet data, about 6,378 tonnes arrived las t week compared to 11,942 tonnes duri ng previous week. On the export front, country exported about 1.11 lakh tonnes in 2016/17 up by 30 % compared to last year exports of 85,412 tonnes , as per government data.

Outlook
Turmeric futures may trade sideways to higher on improved demand from upcountry buyers and expectation of lower area this season. However, good showers in turmeric growing states in coming days may pressurize prices.

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