Turmeric futures may trade lower owing to selling pressure at the spot markets. Traders are expecting farmers to bring more than 10,000 bags a day to the market for sale next week onwards.
Spot Turmeric prices decreased by Rs 150 a quintal on Friday on lukewarm demand from North India. “Due to the harsh winter in North India, turmeric traders are open only by noon.
They keep their shops open only for four hours. Pepper futures may trade sideways supported by thin arrivals at the spot market.
However, the domestic demand continued to remain slow, which may restrict the upside.
Jeera futures may trade in range of 15600-16000. Higher acreage & selling of old crop at the spot market, may cap the upside.
Courtesy: SMC Global
