Reduction in production and carry forward stocks remain half due to this NCDEX Turmeric prices may get rise. According to leading businesses of Turmeric,Prices in the next 2-3 months may be 10,000-11,000 a quintal.
The country's annual consumption is 70-75 million bags (each bag of 70 kg), while the production of 50 million bags and carry forward stock is 50 million bags. So for next year is expected to carry forward stock down to 25-30 million bags.
Increased exports of turmeric:
Spice Board of India during the first half of the financial year 2015-16, the country exported 46,500 tons of turmeric in the first half of 2014-15. Total exports from India turmeric in 2014-15 was 86,000 tonnes , while turmeric exports in 2013-14 was 77,500 tonnes. Increased exports turmeric prices are expected to trend upward.
MCX NCDEX Tips:
Sell Crude February in between 2290/2295 stoploss 2330 target 2254.
BUY ZINC ABOVE 108.95 TGT 110.80,113.40 SL 106.8.
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