| Date: |
27-11-2010 |
| Subject: |
Turmeric Gains on Lower Stocks |
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Turmeric yesterday we have seen that market has moved 2.56% due to diminishing stocks and poor supply. Weak exports demand for the commodity is limiting its upside.
In October 2010, India's turmeric exports were 3,500 tonnes as compared to 3,975 tonnes a year ago. In Nizamabad, a major spot market in AP, the price ended at 15820 rupees dropped by -16.85 rupees.
Market has opened at 14290 & made a low of 14210 versus the day high of 14838. The total volume for the day was at 4705 lots and the open interest was at 5010.
Support for turmeric is at 14345 below that could see a test of 13963. Resistance is now seen at 14973 above that could see a resistance of 15219.
Source : commodityonline.com
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