Turmeric on NCDEX settled up 0.93% at 6530 on anticipation of government procurement and expectation of further improvement in upcountry and export demand. Buyers and traders have purchased all the good quality turmeric to fulfil demand and some traders have decided to store few bags of best quality turmeric. In 2018/19, production is forecast at 11.5 lt in the 1st advance estimates by the government.
Trading Ideas:
* Turmeric trading range for the day is 6344-6732.
* Turmeric prices gained on anticipation of government procurement and expectation of further improvement in upcountry and export demand.
* There were also concerns that drought conditions and cold weather will affect the crop production.
* In 2018/19, production is forecast at 11.5 lt in the 1st advance estimates by the government.
* In Nizamabad, a major spot market in AP, the price ended at 6291.2 Rupees dropped -20 Rupees.
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