The Indian Turmeric Moving Up

• Last week the market in turmeric remained the same from Monday to Thursday.
• The markets have not been very bearish in the last week.
• On Friday, NCDEX saw an upper circuit of 6%; on that day the market remained strong by $4.03-5.38 in turmeric everywhere.
• Last week the arrivals in the mandis were less. The new turmeric crop will start in the Erode belt after January 15 -20, 2022.
• There are reports of 5-10% damage to the Turmeric crop in Tamil Nadu.
• There are reports of about 30% damage to turmeric crops in Maharashtra.
• The accurate assessment of crop damage will be known only at the commencement of the crop.
• There is a bullish trend in the market for turmeric in the current situation.
• Turmeric in Kandakuji in Nanded, significant reduction in production is possible due to continuous rains.
• This week in two days there is a rise of 20 to 30$ pmt in the markets.
• In NCDEX futures, yesterday turmeric for April closed with a gain of $415.
•  Demand is good in the domestic and export markets.
• The arrivals remained the same in the mandis.
• Technical: The trend is bullish. Turmeric prices are at a breakeven level. If prices stay at these levels for a few more days, there are chances that the market can even move further on the higher side.

Turmeric Finger (Salem, Double Polished No.1)

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