TURMERIC SWELLS ON DELAY SOWING IN MAJOR PRODUCING STATES
DATE: 11/06/2012
Turmeric futures gained almost 1% in today's trading due to slow sowing progress of new crop in major producing states along with strong demand by stockiest at lower levels.
As per market sources , weak sowing progress of turmeric crop has been reported so far in Tamilnadu due to paucity of rainfall along with dearth of sowing interest in turmeric crop amongst farmers in the wake of bumper production in the last year.
Moreover, poor reservoir condition in Andhra Pradesh districts such as Telangana and Kadapa also delaying the sowing of turmeric crop in the current season.
Therefore, delay in sowing of turmeric crop in the major producing states prompted strong demand of turmeric in futures market. The NCDEX July Benchmark contract augmented by 36 per quintal to currently trade at Rs 3715 per quintal.
POWERED BY: COMMODITY INSIGHTS
www.goldennifty.com
No comments:
Post a Comment