Turmeric: Storm surge in Spot Market
August 16, 2017 at 7:36 AM ,
Rainbow Exports
In Tamil Nadu there is a state of drought.
In other producing areas of turmeric there is somewhere a rash of rains. What is the quantity of Andhra's productive areas to be supplied across the country? In some areas, sowing conditions have been created good and some areas bad. Farmers do not have seeds in such a large quantity. There is no shortage of rain in Tamil Nadu, but a situation like drought has been created. There has been a crisis of sowing in eroded and nearby turmeric producing areas. Last month, sowing was done in areas such as Nizamabad, Sangli, Basmatnagar, Nanded, Hingoli, Doggirara, Warangal etc. However, after the absence of rainfall, conditions for drying and sowing of crops have started to be created. Turmeric sowing is done in the month of June. Now half the month of August has ended. If rain has to be sown for the second time, where will the seeds come from? Due to lack of production, export fears
It should be assumed that even if the crop is harvested well in Andhra, it is not possible to supply the entire country. Apart from this, the turmeric of Andhra goes to the excessive amount of exports after being burnt. It is to see that the speed at which the turmeric prices are increasing in India, now the export demand can be fast or supply to other countries. Many times the increase in the volume of the product is partially affected by the export.
Storm surge in Spot Market:
The turmeric futures have come down sharply, while there is a storm surge in the house prices. In the prices of turmeric has been sold at US$815- 860 per mt. lower side and US$1280 to 1330 per mt. upper side. After such a huge increase, the supply of large quantities of turmeric in Spot market is difficult. Although traders of Andhra are shaking the stock after seeing the crop, but if the prices continue to grow like this then they can also stop selling.
Large quantities of eroded big hedgers, speculators in turmeric
Due to the situation like drought in Tamil Nadu, the purchase of turmeric's biggest specimen in Erode also runs in Nizamabad. Apart from the merchants of Delhi, UP and many big companies have made the purchase, which keeps the deals from 50 to 60 trucks days. Eerod's speculators are buying candidly in Nizamabad. It is believed that this year, turmeric producers and traders can be called traders. The chance of recession in turmeric has almost come to an end. So far, about US$470 per mt. has come up. How fast it is in the coming months, it is a matter of considerable subject. Hedgers, Stockiest and Speculators will be holding on turmeric this year. Why is big ticket turmeric advised to make profits in futures? It is not understood by many traders.
Grinding Seekers
Demand in turmeric stagnant in the rainy season remains weak. At this time there is a demand for exporters with the supply of domestic demand as well as powder making. Some branded turmeric at origin being made available directly to the consumer which has made the supply difficult. The expectation of all suppliers moved to higher level prices. Why turmeric futures are stuck in moving forward, it is hard to imagine. The futures market has to move forward if not today but has to be tomorrow as there are strong ground realities that market should go up.
Due to erosion in erode, we are beginning to land in Andhra's mandis to buy the famous heroes of the country. Those futures traders hope to get more harvest of Andhra Pradesh and Maharashtra. Turmeric exports from India are also in large quantities and increasing day by day.
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