Turmeric settled up 1.06% at 4768 on expectations of a pick-up in local demand, though higher carry forward stocks and hopes of better crop capped the gains. Carry-forward stocks are large from the old crop, while local supplies would increase with the arrival of the new crop from February. The weather is favourable and yields are expected to be better this season. Turmeric cultivation usually begins in the last week of May and continues until August. A lengthy harvesting process starts from January. The total carryover stocks of turmeric in major mandies were reported higher at 65 lakh bags up almost 11 lakh bags from the last year in the same period.
Monday, November 11, 2013
Commodity Trading Tips for Turmeric by KediaCommodity
Turmeric settled up 1.06% at 4768 on expectations of a pick-up in local demand, though higher carry forward stocks and hopes of better crop capped the gains. Carry-forward stocks are large from the old crop, while local supplies would increase with the arrival of the new crop from February. The weather is favourable and yields are expected to be better this season. Turmeric cultivation usually begins in the last week of May and continues until August. A lengthy harvesting process starts from January. The total carryover stocks of turmeric in major mandies were reported higher at 65 lakh bags up almost 11 lakh bags from the last year in the same period.
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