http://www.commodityonline.com/tags/commodity-newstag.html
MUMBAI (Commodity Online): Turmeric futures likely to open lower on Thursday on the back of increasing arrivals from the fresh crop amid better crop concerns in the next year.
In NCDEX on Wednesday December contract closed lower by 1.24% to Rs.4610 per quintal against the previous close.
Traders expect the trend to remain volatile in the short term as improved production prospects and higher stocks could keep the prices under check to some extent, according to Religare Commodities.
Good Monsoon reports in AP has reportedly keeping the sowing activities proper. The area sown would however depend on market rates and if falling trend continues, traders expect the sowing area may fall as farmers may shift to other lucrative crops like cotton, soybean etc.
The total production this year is expected to touch 75-85 lakh bags (1 bag-75kg) - higher than the 65-70 lakh bags in 2010-11. Higher acreage from the high rates is stated the reason for the rise in expected production as per traders.
According to Spices Board of India, exports of Turmeric during April 2011- October 2011 stood at 50000 tonnes as compared to 32000 tonnes in 2010-11, rise of 56%.
MUMBAI (Commodity Online): Turmeric futures likely to open lower on Thursday on the back of increasing arrivals from the fresh crop amid better crop concerns in the next year.
In NCDEX on Wednesday December contract closed lower by 1.24% to Rs.4610 per quintal against the previous close.
Traders expect the trend to remain volatile in the short term as improved production prospects and higher stocks could keep the prices under check to some extent, according to Religare Commodities.
Good Monsoon reports in AP has reportedly keeping the sowing activities proper. The area sown would however depend on market rates and if falling trend continues, traders expect the sowing area may fall as farmers may shift to other lucrative crops like cotton, soybean etc.
The total production this year is expected to touch 75-85 lakh bags (1 bag-75kg) - higher than the 65-70 lakh bags in 2010-11. Higher acreage from the high rates is stated the reason for the rise in expected production as per traders.
According to Spices Board of India, exports of Turmeric during April 2011- October 2011 stood at 50000 tonnes as compared to 32000 tonnes in 2010-11, rise of 56%.
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